Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 3.3%

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) were down 3.3% during mid-day trading on Friday . The company traded as low as $8.22 and last traded at $8.24. Approximately 193,243 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,715,311 shares. The stock had previously closed at $8.52.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MRVI shares. Bank of America raised shares of Maravai LifeSciences from a "neutral" rating to a "buy" rating and dropped their target price for the company from $10.00 to $8.00 in a report on Tuesday, December 12th. Stifel Nicolaus lowered their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 23rd. Finally, Royal Bank of Canada increased their price target on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.13.

Maravai LifeSciences Price Performance

The company's fifty day moving average price is $7.06 and its 200 day moving average price is $6.86. The company has a market capitalization of $2.00 billion, a P/E ratio of -8.83 and a beta of 0.01. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The firm had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. As a group, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Institutional Trading of Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in MRVI. Zions Bancorporation N.A. acquired a new stake in Maravai LifeSciences in the first quarter valued at approximately $28,000. Gladius Capital Management LP acquired a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Maravai LifeSciences during the first quarter worth $31,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Maravai LifeSciences by 96.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company's stock worth $34,000 after purchasing an additional 1,662 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Maravai LifeSciences by 99.9% during the third quarter. Signaturefd LLC now owns 3,364 shares of the company's stock worth $34,000 after purchasing an additional 1,681 shares during the period. Institutional investors and hedge funds 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.