Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 7.1% - What's Next?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares were down 7.1% during mid-day trading on Wednesday . The company traded as low as $5.17 and last traded at $5.11. Approximately 1,650,742 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,993,870 shares. The stock had previously closed at $5.50.

Analyst Ratings Changes

Several research analysts have commented on MRVI shares. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group downgraded Maravai LifeSciences from a "neutral" rating to a "sell" rating and reduced their price target for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a "neutral" rating on the stock. Royal Bank of Canada lowered their target price on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Finally, William Blair restated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.28.

Maravai LifeSciences Stock Down 8.5 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.07 and a beta of -0.07. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The company's 50 day moving average price is $5.42 and its 200 day moving average price is $7.21.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.09) EPS for the quarter. The business had revenue of $65.20 million for the quarter, compared to analyst estimates of $67.58 million. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the acquisition, the insider now owns 175,000 shares in the company, valued at approximately $987,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock worth $33,658,000 after buying an additional 3,731,924 shares during the period. Point72 DIFC Ltd purchased a new stake in Maravai LifeSciences during the third quarter worth about $22,108,000. Millennium Management LLC lifted its position in shares of 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 in the last quarter. Royce & Associates LP lifted its position in shares of Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company's stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Maravai LifeSciences by 610.2% during the 3rd quarter. Quantinno Capital Management LP now owns 336,527 shares of the company's stock worth $2,797,000 after buying an additional 289,141 shares during the period. Institutional investors and hedge funds 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.

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