Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 5.7% - Here's Why

Key Points

• Maravai LifeSciences shares fell 5.7% to about $6.85, with trading volume 62% below the average daily level.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $6.83—roughly in line with the stock’s trading price.
• The company beat quarterly revenue and EPS expectations, reporting $51.44 million in revenue and a loss of $0.02 per share, but it continues to post negative margins and is expected to lose $0.20 per share for the year.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares fell 5.7% during trading on Friday . The company traded as low as $6.85 and last traded at $6.8530. Approximately 940,271 shares were traded during trading, a decline of 62% from the average daily volume of 2,473,997 shares. The stock had previously closed at $7.27.

Wall Street Analyst Weigh In

MRVI has been the subject of a number of research analyst reports. UBS Group raised their price target on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Wall Street Zen lowered Maravai LifeSciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Wells Fargo & Company boosted their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.83.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05. The firm has a fifty day simple moving average of $6.94 and a 200 day simple moving average of $5.16. The company has a market capitalization of $1.79 billion, a PE ratio of -13.27 and a beta of 0.60.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%.The firm had revenue of $51.44 million during the quarter, compared to the consensus estimate of $48.67 million. Equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after buying an additional 3,209 shares during the period. Bank of New York Mellon Corp lifted its position in Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company's stock valued at $973,000 after acquiring an additional 8,955 shares during the period. R Squared Ltd boosted its position in shares of Maravai LifeSciences by 76.0% in the 1st quarter. R Squared Ltd now owns 27,394 shares of the company's stock worth $78,000 after purchasing an additional 11,827 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Maravai LifeSciences in the first quarter worth $37,000. Finally, AXQ Capital LP increased its holdings in shares of Maravai LifeSciences by 63.8% during the fourth quarter. AXQ Capital LP now owns 43,994 shares of the company's stock valued at $143,000 after acquiring an additional 17,135 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

About Maravai LifeSciences

Maravai LifeSciences, Inc NASDAQ: MRVI is a life sciences company that develops and supplies products and services used in biopharmaceutical research, drug development and manufacturing. Its offerings support the production and analysis of nucleic acids, including DNA and RNA used in applications such as messenger RNA therapeutics, vaccines, gene therapies and molecular diagnostics.

Through its nucleic acid production businesses, Maravai provides specialized enzymes, modified nucleotides, nucleoside triphosphates, oligonucleotides, capping products and related materials.

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