Maravai LifeSciences (NASDAQ:MRVI) Trading Down 5.3% – Should You Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price dropped 5.3% during trading on Thursday . The company traded as low as $8.46 and last traded at $8.4250. Approximately 1,561,504 shares traded hands during trading, a decline of 35% from the average daily volume of 2,414,749 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a report on Friday, May 8th. Wells Fargo & Company raised 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. Finally, Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Price Performance

The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $2.19 billion, a P/E ratio of -16.22 and a beta of 0.63. The company has a 50 day moving average price of $6.50 and a 200 day moving average price of $4.70.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. On average, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel directly owned 360,767 shares of the company’s stock, valued at $1,825,481.02. This represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.49% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Maravai LifeSciences by 61.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,553 shares of the company’s stock worth $60,000 after buying an additional 3,639 shares during the period. Headlands Technologies LLC bought a new stake in shares of Maravai LifeSciences in the second quarter valued at about $1,038,000. Public Employees Retirement System of Ohio acquired a new position in shares of Maravai LifeSciences in the second quarter valued at about $728,000. Bank of New York Mellon Corp bought a new position in Maravai LifeSciences during the second quarter worth about $2,230,000. Finally, Royal Bank of Canada raised its stake in 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 purchasing an additional 3,209 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.