Maravai LifeSciences (NASDAQ:MRVI) Trading Down 9.6% - Here's Why

Key Points

• Maravai LifeSciences shares fell 9.6% during trading, reaching a low of $2.12, with a significant decline in trading volume compared to the average.
• Analysts have adjusted their price targets for MRVI, with Craig Hallum lowering theirs to $10.00 while Robert W. Baird dropped theirs to $2.00, reflecting a generally negative outlook.
• The company reported a loss of ($0.08) earnings per share, slightly worse than estimates, while revenue dropped 26.9% year-over-year, indicating ongoing financial challenges.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares dropped 9.6% during trading on Wednesday . The stock traded as low as $2.12 and last traded at $2.12. Approximately 1,530,642 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 2,456,327 shares. The stock had previously closed at $2.34.

Analyst Ratings Changes

MRVI has been the topic of several research analyst reports. Craig Hallum reduced 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 reduced their price target on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Trading Down 12.8%

The company has a debt-to-equity ratio of 0.60, a current ratio of 5.96 and a quick ratio of 5.17. The business has a 50 day moving average of $2.40 and a 200 day moving average of $2.75. The firm has a market capitalization of $519.51 million, a price-to-earnings ratio of -1.79 and a beta of 0.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its 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 the consensus estimate of $44.01 million. Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The company's revenue was down 26.9% compared to the same quarter last year. As a group, research analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently made changes to their positions in MRVI. Callan Family Office LLC bought a new position in shares of Maravai LifeSciences in the 2nd quarter valued at $25,000. Ethic Inc. bought a new position in Maravai LifeSciences during the 2nd quarter worth $26,000. McAdam LLC bought a new position in Maravai LifeSciences during the 1st quarter worth $31,000. EntryPoint Capital LLC bought a new position in Maravai LifeSciences during the 1st quarter worth $32,000. Finally, Teacher Retirement System of Texas bought a new position in Maravai LifeSciences during the 1st quarter worth $37,000. 50.25% of the stock is currently 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.

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