Maravai LifeSciences (NASDAQ:MRVI) Trading Down 2.9%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price fell 2.9% on Wednesday . The company traded as low as $7.81 and last traded at $7.90. 268,444 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,618,730 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Craig Hallum started coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price objective for the company. Stifel Nicolaus dropped their price objective on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Royal Bank of Canada raised their target price on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.56.

Maravai LifeSciences Stock Down 3.2 %

The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -8.96 and a beta of 0.01. The business has a 50 day moving average of $7.43 and a 200 day moving average of $6.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The business had revenue of $74.14 million during the quarter, compared to analyst estimates of $62.99 million. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of Maravai LifeSciences by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock worth $14,694,000 after buying an additional 6,339 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Maravai LifeSciences by 13.6% in the first quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock valued at $591,000 after purchasing an additional 1,986 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Maravai LifeSciences in the first quarter worth about $250,000. Dimensional Fund Advisors LP raised its position in shares of Maravai LifeSciences by 534.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock valued at $4,133,000 after acquiring an additional 98,698 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Maravai LifeSciences by 7.5% during the first quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after acquiring an additional 11,079 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

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.