Maravai LifeSciences (NASDAQ:MRVI) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Maravai LifeSciences reported a loss of $0.12 EPS for the quarter, missing analysts' estimates by $0.06.
• The company's stock has seen a recent decline, trading at $2.06, down from a 1-year high of $9.95.
• Analysts have recently adjusted price targets for Maravai, with a current average target of $6.64 and a mix of ratings including one sell and four buy ratings.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06), Zacks reports. Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%.

Maravai LifeSciences Stock Performance

MRVI stock traded down $0.14 during mid-day trading on Monday, hitting $2.06. The stock had a trading volume of 1,711,551 shares, compared to its average volume of 1,561,199. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.17 and a current ratio of 5.96. Maravai LifeSciences has a 1-year low of $1.66 and a 1-year high of $9.95. The company has a fifty day moving average of $2.39 and a 200 day moving average of $2.66.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MRVI shares. Craig Hallum dropped their price objective on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Robert W. Baird lowered their price target on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Maravai LifeSciences stock. Creative Planning lifted its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 49.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,031 shares of the company's stock after acquiring an additional 38,450 shares during the quarter. Creative Planning's holdings in Maravai LifeSciences were worth $280,000 as of its most recent filing with the SEC. Hedge funds and other 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.

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