Maravai LifeSciences (NASDAQ:MRVI) Shares Down 5.1%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 5.1% during trading on Monday . The company traded as low as $9.07 and last traded at $9.19. 1,369,974 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 2,447,851 shares. The stock had previously closed at $9.68.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird increased their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 target price on shares of Maravai LifeSciences in a report on Friday. The Goldman Sachs Group increased their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.88.

Maravai LifeSciences Price Performance

The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -9.24 and a beta of 0.02. The company has a 50-day moving average price of $8.15 and a 200-day moving average price of $8.11. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.47 and a current ratio of 11.32.

Maravai LifeSciences (NASDAQ:MRVI) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS 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 dated Tuesday, May 28th. The stock was 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 approximately $197,671,549.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of MRVI. Jump Financial LLC acquired a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $225,000. Principal Financial Group Inc. raised its position in Maravai LifeSciences by 3,349.6% in the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after purchasing an additional 398,306 shares during the last quarter. Performa Ltd US LLC increased its stake in shares of Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after buying an additional 3,175 shares during the period. Sivik Global Healthcare LLC acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at about $1,344,000. Finally, Jennison Associates LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at about $3,415,000. 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.