Maravai LifeSciences (NASDAQ:MRVI) Issues Quarterly Earnings Results

Maravai LifeSciences (NASDAQ:MRVI) issued its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08), Zacks reports. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%.

Maravai LifeSciences Trading Down 2.3 %

NASDAQ:MRVI traded down $0.06 during trading hours on Tuesday, reaching $2.58. 4,176,663 shares of the company were exchanged, compared to its average volume of 2,227,284. 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 firm has a market cap of $651.52 million, a price-to-earnings ratio of -1.57 and a beta of -0.08. Maravai LifeSciences has a 52-week low of $2.37 and a 52-week high of $11.56. The stock has a 50 day simple moving average of $4.23 and a 200 day simple moving average of $5.97.

Analyst Ratings Changes

Several research analysts have weighed in on MRVI shares. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Robert W. Baird lowered shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Bank of America lowered their price target on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Guggenheim assumed coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $9.28.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

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.