Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 7.1% - Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares dropped 7.1% during 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 Analyst Weigh In

MRVI has been the topic of several research reports. UBS Group reduced their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. 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 research note on Tuesday, May 13th. Robert W. Baird dropped their price target on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price target on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note 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 company's stock. Based on data from MarketBeat, Maravai LifeSciences presently has a consensus rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Trading Down 5.5%

The business has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $3.09. The stock has a market cap of $695.22 million, a price-to-earnings ratio of -2.39 and a beta of 0.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.96 and a quick ratio of 5.17.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The business had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences's revenue was down 26.9% compared to the same quarter last year. Equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Performa Ltd US LLC increased its stake in Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock worth $27,000 after acquiring an additional 4,300 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Maravai LifeSciences by 12.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,828 shares of the company's stock worth $387,000 after acquiring an additional 7,946 shares during the period. VELA Investment Management LLC increased its stake in Maravai LifeSciences by 5.6% during the 1st quarter. VELA Investment Management LLC now owns 156,334 shares of the company's stock worth $345,000 after acquiring an additional 8,222 shares during the period. Farther Finance Advisors LLC lifted its stake in Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company's stock worth $56,000 after purchasing an additional 9,916 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Maravai LifeSciences by 15.7% during the fourth quarter. MetLife Investment Management LLC now owns 74,904 shares of the company's stock worth $408,000 after purchasing an additional 10,168 shares during the last quarter. 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.