Maravai LifeSciences (NASDAQ:MRVI) Announces Quarterly Earnings Results

Maravai LifeSciences (NASDAQ:MRVI) issued its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08), Zacks reports. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%.

Maravai LifeSciences Trading Down 2.3 %

Shares of Maravai LifeSciences stock traded down $0.06 during trading on Tuesday, hitting $2.58. The company’s stock had a trading volume of 4,178,790 shares, compared to its average volume of 3,092,617. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences has a 52 week low of $2.37 and a 52 week high of $11.56. The stock has a market cap of $651.52 million, a price-to-earnings ratio of -1.57 and a beta of -0.08. The stock has a 50-day moving average price of $4.23 and a two-hundred day moving average price of $5.97.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MRVI shares. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $3.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Baird R W cut shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America decreased their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $9.28.

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.