Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 8.9% – Here’s Why

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price was down 8.9% during mid-day trading on Wednesday . The stock traded as low as $3.45 and last traded at $3.46. Approximately 339,664 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,078,739 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences has an average rating of “Hold” and an average target price of $5.25.

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 5.29 and a quick ratio of 4.56. The company’s 50-day moving average price is $3.63 and its 200-day moving average price is $3.09. The company has a market cap of $876.05 million, a P/E ratio of -4.09 and a beta of 0.33.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Maravai LifeSciences had a negative net margin of 62.88% and a negative return on equity of 22.42%. The company had revenue of $41.63 million during the quarter, compared to analyst estimates of $49.02 million. As a group, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In related news, Director Gregory T. Lucier purchased 51,472 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $3.70 per share, for a total transaction of $190,446.40. Following the purchase, the director owned 106,595 shares in the company, valued at approximately $394,401.50. This represents a 93.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bernd Brust acquired 216,212 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $3.25 per share, with a total value of $702,689.00. Following the completion of the transaction, the chief executive officer directly owned 466,771 shares of the company’s stock, valued at approximately $1,517,005.75. The trade was a 86.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 566,771 shares of company stock valued at $1,880,244 in the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently modified their holdings of MRVI. Sprott Inc. bought a new position in Maravai LifeSciences during the third quarter worth about $29,000. Callan Family Office LLC acquired a new position in shares of Maravai LifeSciences in the 2nd quarter valued at approximately $25,000. Ethic Inc. bought a new position in shares of Maravai LifeSciences in the 2nd quarter valued at $26,000. Quantessence Capital LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth $31,000. Finally, Abel Hall LLC bought a new position in Maravai LifeSciences in the third quarter valued at about $33,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.