Maravai LifeSciences (NASDAQ:MRVI) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Maravai LifeSciences to “Hold” from “Buy.” The broader analyst consensus is also “Hold,” with three Buy ratings and two Sell ratings and an average price target of $5.50.
• MRVI shares opened at $6.57, above the consensus target, after trading between $1.99 and $7.44 over the past year. The stock’s 50-day and 200-day moving averages are $5.80 and $4.30, respectively.
• Maravai exceeded quarterly expectations, reporting $0.01 in adjusted EPS versus estimates of a $0.05 loss and revenue of $65.84 million versus $53 million expected. However, the company remains unprofitable, with a negative net margin of 51.07%, and analysts expect a full-year loss.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lifted their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an "overweight" rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 29th. UBS Group restated a "reduce" rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $6.00 price objective on shares of Maravai LifeSciences in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Maravai LifeSciences currently has a consensus rating of "Hold" and an average target price of $5.50.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $6.57 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of -9.25 and a beta of 0.65. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. Maravai LifeSciences has a twelve month low of $1.99 and a twelve month high of $7.44. The firm has a fifty day simple moving average of $5.80 and a 200 day simple moving average of $4.30.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.06. The business had revenue of $65.84 million for the quarter, compared to analysts' expectations of $53.00 million. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. On average, sell-side analysts forecast that Maravai LifeSciences will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.49% of the company's stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after purchasing an additional 3,209 shares during the last quarter. Quantessence Capital LLC bought a new position in shares of Maravai LifeSciences in the third quarter valued at approximately $31,000. Abel Hall LLC purchased a new position in shares of Maravai LifeSciences during the third quarter valued at approximately $33,000. CIBC Bancorp USA Inc. bought a new stake in Maravai LifeSciences during the third quarter worth $33,000. Finally, Virtu Financial LLC purchased a new stake in Maravai LifeSciences in the 4th quarter valued at $34,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Company Profile

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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