Maravai LifeSciences (NASDAQ:MRVI) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Maravai LifeSciences from “buy” to “hold.” Analyst opinions remain mixed, with the stock carrying an overall “hold” rating and an average price target of $6.25.
• Maravai opened at $7.68, well above its 50-day and 200-day moving averages of $6.62 and $4.76, respectively. The stock has traded between $2.29 and $9.42 over the past year.
• The company beat quarterly expectations, reporting a loss of $0.02 per share versus the anticipated loss of $0.04 and revenue of $51.44 million versus estimates of $48.67 million. However, it continues to post negative profitability metrics, including a 37.07% net margin.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other research firms also recently commented on MRVI. UBS Group reiterated a "reduce" rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Maravai LifeSciences in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.25.

Maravai LifeSciences Price Performance

NASDAQ:MRVI opened at $7.68 on Friday. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.99 billion, a P/E ratio of -14.77 and a beta of 0.63. Maravai LifeSciences has a 12 month low of $2.29 and a 12 month high of $9.42. The business's 50-day moving average is $6.62 and its 200 day moving average is $4.76.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%.The business had revenue of $51.44 million during the quarter, compared to analysts' expectations of $48.67 million. On average, equities research analysts forecast that Maravai LifeSciences will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the sale, the general counsel directly owned 360,767 shares in the company, valued at $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in Maravai LifeSciences by 61.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,553 shares of the company's stock valued at $60,000 after buying an additional 3,639 shares during the period. Headlands Technologies LLC purchased a new position in Maravai LifeSciences during the second quarter worth $1,038,000. Public Employees Retirement System of Ohio bought a new position in Maravai LifeSciences during the second quarter valued at $728,000. Bank of New York Mellon Corp bought a new position in Maravai LifeSciences during the second quarter valued at $2,230,000. Finally, Royal Bank of Canada raised its stake in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after acquiring an additional 3,209 shares during the period. Institutional investors own 50.25% of the company's stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc NASDAQ: MRVI is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company's offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai's platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.

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