Maravai LifeSciences (NASDAQ:MRVI) Trading Down 3.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 3.1% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.43. Approximately 873,589 shares were traded during trading, a decline of 63% from the average daily volume of 2,331,088 shares. The stock had previously closed at $8.70.

Analyst Ratings Changes

MRVI has been the topic of several analyst reports. UBS Group increased their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird raised their target price on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $11.00 to $10.00 in a research report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Maravai LifeSciences presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Maravai LifeSciences Trading Down 3.0 %

The company has a market cap of $2.01 billion, a price-to-earnings ratio of -8.05 and a beta of 0.02. The business’s fifty day moving average price is $8.12 and its 200 day moving average price is $8.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The business had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. Maravai LifeSciences’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of Maravai LifeSciences stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the transaction, the director now owns 20,150,005 shares in the company, valued at $197,671,549.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Maravai LifeSciences during the second quarter worth about $311,000. Millennium Management LLC boosted its holdings in Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences during the second quarter worth about $5,373,000. Finally, Alpha DNA Investment Management LLC purchased a new position in Maravai LifeSciences during the second quarter worth about $408,000. 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.