Maravai LifeSciences (NASDAQ:MRVI) Trading Down 2.9%

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 2.9% on Wednesday . The company traded as low as $7.81 and last traded at $7.90. 268,444 shares traded hands 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.

Analyst Upgrades and Downgrades

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

Maravai LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41. The business has a 50-day moving average price of $7.52 and a two-hundred day moving average price of $6.77.

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

Institutional Inflows and Outflows

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

Maravai LifeSciences Company Profile

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.