Maravai LifeSciences (NASDAQ:MRVI) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other equities analysts have also issued reports on the stock. UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $6.25.

Maravai LifeSciences Trading Down 8.2%

NASDAQ:MRVI opened at $7.68 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of -14.77 and a beta of 0.63. The business has a 50 day simple moving average of $6.62 and a 200 day simple moving average of $4.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. Maravai LifeSciences has a 12-month low of $2.29 and a 12-month high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $51.44 million for the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. Equities research analysts predict that Maravai LifeSciences will post -0.2 EPS for the current year.

Insider Activity

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred on 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 owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by corporate insiders.

Institutional Trading of Maravai LifeSciences

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after acquiring an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB purchased a new position in Maravai LifeSciences in the fourth quarter valued at about $1,488,000. Eversept Partners LP grew its stake in Maravai LifeSciences by 147.2% in the fourth quarter. Eversept Partners LP now owns 718,582 shares of the company’s stock valued at $2,335,000 after purchasing an additional 427,909 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new position in Maravai LifeSciences in the 1st quarter worth about $961,000. Finally, Yost Capital Management LP acquired a new position in Maravai LifeSciences in the 4th quarter worth about $410,000. 50.25% of the stock is owned by institutional investors and hedge funds.

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.