Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 6.5% - Time to Sell?

Key Points

• Maravai LifeSciences shares fell 6.5% to about $6.60, with roughly 2.38 million shares traded. The stock’s 50-day moving average is $7.20, while its 200-day average is $5.66.
• Analyst sentiment remains mixed but leans positive: the consensus rating is “Moderate Buy” with a $7.38 price target, ranging from $6.50 to $9.00; ratings include Strong Buy, Buy, Hold, and Sell.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.02 per share versus the expected $0.04 loss and revenue of $51.44 million versus $48.67 million expected. However, it continues to post negative profitability metrics, including a 37.07% net margin and a projected full-year loss of $0.20 per share.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) shares dropped 6.5% on Tuesday. The stock traded as low as $6.59 and last traded at $6.6020. Approximately 2,376,345 shares changed hands during trading, a decline of 4% from the average daily volume of 2,488,211 shares. The stock had previously closed at $7.06.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. UBS Group boosted their target price on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. Wells Fargo & Company upped 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. TD Cowen initiated coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They set a "buy" rating and a $9.00 price target on the stock. Finally, Wall Street Zen lowered shares of Maravai LifeSciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.38.

Maravai LifeSciences Trading Down 6.4%

The stock has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $5.66. The firm has a market capitalization of $1.72 billion, a P/E ratio of -12.68 and a beta of 0.54. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The business had revenue of $51.44 million for the quarter, compared to analysts' expectations of $48.67 million. On average, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Royal Bank of Canada grew its stake in shares of Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock worth $27,000 after buying an additional 3,209 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 buying an additional 8,955 shares in the last quarter. R Squared Ltd lifted its holdings 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 valued at $78,000 after acquiring an additional 11,827 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Maravai LifeSciences in the 1st quarter valued at about $37,000. Finally, Squarepoint Ops LLC purchased a new stake in Maravai LifeSciences during the second quarter valued at approximately $128,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai's Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.

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