Maravai LifeSciences (NASDAQ:MRVI) Trading Down 5%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 5% on Friday . The company traded as low as $8.31 and last traded at $8.40. Approximately 988,282 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 2,360,789 shares. The stock had previously closed at $8.84.

Wall Street Analyst Weigh In

Several brokerages recently commented on MRVI. The Goldman Sachs Group boosted their price target on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. UBS Group raised their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and an average price target of $10.78.

Maravai LifeSciences Trading Down 5.5 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The business’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $8.55. The stock has a market cap of $2.10 billion, a P/E ratio of -8.40 and a beta of 0.01.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. On average, analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after buying an additional 117,120 shares during the last quarter. Jump Financial LLC acquired a new position in Maravai LifeSciences during the fourth quarter worth $225,000. Principal Financial Group Inc. raised its position in Maravai LifeSciences by 3,349.6% during the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after acquiring an additional 398,306 shares in the last quarter. Jennison Associates LLC acquired a new stake in Maravai LifeSciences in the first quarter valued at $3,415,000. Finally, Point72 Europe London LLP acquired a new stake in Maravai LifeSciences in the fourth quarter valued at $17,059,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.