Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 4.8% - Here's Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report)'s stock price was down 4.8% during trading on Monday . The company traded as low as $2.24 and last traded at $2.28. Approximately 446,879 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,329,962 shares. The stock had previously closed at $2.39.

Analysts Set New Price Targets

A number of equities research analysts have commented on MRVI shares. Craig Hallum cut their target price on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Baird R W downgraded shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Robert W. Baird cut their target price on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Stifel Nicolaus set a $5.00 target price on shares of Maravai LifeSciences in a research report on Friday, March 21st. Finally, Morgan Stanley cut their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.64.

Maravai LifeSciences Stock Down 0.9%

The company's 50 day moving average price is $2.06 and its two-hundred day moving average price is $3.58. The firm has a market cap of $575.53 million, a PE ratio of -1.38 and a beta of 0.25. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $46.85 million for the quarter, compared to analysts' expectations of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The company's revenue was down 26.9% on a year-over-year basis. On average, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Performa Ltd US LLC boosted its holdings in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after buying an additional 4,300 shares during the period. McAdam LLC bought a new position in Maravai LifeSciences in the 1st quarter worth $31,000. EntryPoint Capital LLC bought a new position in Maravai LifeSciences in the 1st quarter worth $32,000. Teacher Retirement System of Texas bought a new position in Maravai LifeSciences in the 1st quarter worth $37,000. Finally, Aigen Investment Management LP bought a new position in Maravai LifeSciences in the 1st quarter worth $37,000. 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.