Maravai LifeSciences (NASDAQ:MRVI) Shares 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 stock traded as low as $2.60 and last traded at $2.57. Approximately 302,368 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,283,095 shares. The stock had previously closed at $2.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRVI shares. Craig Hallum decreased their price target on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a report on Friday, March 21st. Robert W. Baird cut their target price on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. UBS Group cut their target price on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley cut their target price on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Price Performance

The company has a market capitalization of $695.22 million, a price-to-earnings ratio of -2.39 and a beta of 0.28. The business has a 50 day moving average price of $2.27 and a 200-day moving average price of $3.12. 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 (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The firm had revenue of $46.85 million during the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences had a negative net margin of 67.14% and a negative return on equity of 12.91%. The firm's revenue for the quarter was down 26.9% on a year-over-year basis. Research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Performa Ltd US LLC boosted its stake in shares of 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 last quarter. McAdam LLC purchased a new position in Maravai LifeSciences in the first quarter valued at approximately $31,000. EntryPoint Capital LLC purchased a new position in Maravai LifeSciences in the first quarter valued at approximately $32,000. Teacher Retirement System of Texas purchased a new position in Maravai LifeSciences in the first quarter valued at approximately $37,000. Finally, Aigen Investment Management LP purchased a new position in Maravai LifeSciences in the first quarter valued at approximately $37,000. 50.25% of the stock is owned by institutional investors.

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.