Maravai LifeSciences (NASDAQ:MRVI) Trading Down 6.5% – Here’s What Happened

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 6.5% during mid-day trading on Friday . The stock traded as low as $4.65 and last traded at $4.63. 464,801 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,935,956 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating for the company. Royal Bank of Canada cut their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Robert W. Baird dropped their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.28.

Maravai LifeSciences Trading Down 7.5 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a market cap of $1.16 billion, a PE ratio of -2.79 and a beta of -0.08. The company’s fifty day moving average is $5.36 and its 200-day moving average is $7.04.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $67.58 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. During the same period last year, the firm earned ($0.02) EPS. On average, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Carl Hull bought 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $5.64 per share, with a total value of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVI. JPMorgan Chase & Co. increased its stake in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares in the last quarter. Royce & Associates LP raised its stake in Maravai LifeSciences by 130.4% in the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after purchasing an additional 514,332 shares during the last quarter. Barclays PLC lifted its holdings in Maravai LifeSciences by 349.2% in the 3rd quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares in the last quarter. Systematic Financial Management LP boosted its stake in Maravai LifeSciences by 14.7% during the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company’s stock worth $13,397,000 after purchasing an additional 206,499 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock worth $22,874,000 after buying an additional 162,601 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

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.