Maravai LifeSciences (NASDAQ:MRVI) Shares Down 6.5% – Here’s Why

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRVI. Wolfe Research initiated coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Finally, Robert W. Baird reduced their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences currently has an average rating of “Hold” and a consensus target price of $10.28.

Maravai LifeSciences Stock Performance

The firm has a market cap of $1.16 billion, a PE ratio of -2.79 and a beta of -0.08. The firm’s 50 day simple moving average is $5.36 and its 200 day simple moving average is $7.04. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

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. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The firm had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $67.58 million. During the same period last year, the company earned ($0.02) earnings per share. On average, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Hull bought 175,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares of the company’s stock, valued at approximately $987,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC purchased a new stake in Maravai LifeSciences in the 3rd quarter valued at about $47,000. FNY Investment Advisers LLC grew its holdings in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares in the last quarter. Atria Investments Inc purchased a new position in Maravai LifeSciences during the 4th quarter valued at about $58,000. Custom Index Systems LLC purchased a new position in Maravai LifeSciences during the third quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences in the third quarter worth approximately $105,000. 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.