Maravai LifeSciences (NASDAQ:MRVI) Announces Earnings Results

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) issued its quarterly earnings data 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. The business had revenue of $56.56 million for the quarter, compared to the consensus estimate of $57.79 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%.

Maravai LifeSciences Stock Down 5.4 %

Shares of NASDAQ MRVI traded down $0.13 during trading hours on Friday, hitting $2.27. The company had a trading volume of 12,718,611 shares, compared to its average volume of 2,267,099. The stock has a market capitalization of $573.24 million, a P/E ratio of -1.38 and a beta of -0.08. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 1-year low of $2.07 and a 1-year high of $11.56. The firm's 50 day moving average is $3.96 and its 200-day moving average is $5.83.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have issued reports on MRVI. UBS Group cut their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a report on Friday. Baird R W cut Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Bank of America cut their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Robert W. Baird cut Maravai LifeSciences from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $9.00 to $3.00 in a report on Wednesday, February 26th. Finally, Guggenheim began coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.22.

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.