Maravai LifeSciences (NASDAQ:MRVI) Trading Down 2.9%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 2.9% during trading on Wednesday . The company traded as low as $7.81 and last traded at $7.90. 268,444 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,618,730 shares. The stock had previously closed at $8.14.

Analyst Upgrades and Downgrades

MRVI has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Royal Bank of Canada raised their target price on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Craig Hallum began coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.56.

Maravai LifeSciences Stock Down 3.2 %

The business’s fifty day simple moving average is $7.43 and its two-hundred day simple moving average is $6.75. The company has a market cap of $1.98 billion, a PE ratio of -8.96 and a beta of 0.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. On average, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVI. Thrivent Financial for Lutherans raised its position in Maravai LifeSciences by 32.6% during the first quarter. Thrivent Financial for Lutherans now owns 8,189,798 shares of the company’s stock worth $114,739,000 after acquiring an additional 2,011,683 shares during the period. 12 West Capital Management LP raised its position in shares of Maravai LifeSciences by 92.2% during the 3rd quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company’s stock worth $64,631,000 after purchasing an additional 3,101,275 shares during the last quarter. BlackRock Inc. lifted its stake in Maravai LifeSciences by 2.2% in the 1st quarter. BlackRock Inc. now owns 5,899,915 shares of the company’s stock valued at $82,658,000 after buying an additional 126,007 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Maravai LifeSciences by 4.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock worth $33,858,000 after buying an additional 238,335 shares during the last quarter. Finally, Braidwell LP increased its stake in Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after buying an additional 1,065,778 shares in the last quarter. Hedge funds and other 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.