Maravai LifeSciences (NASDAQ:MRVI) Posts Earnings Results, Misses Estimates By $0.08 EPS

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

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI traded down $0.06 during midday trading on Tuesday, hitting $2.58. The company’s stock had a trading volume of 4,176,663 shares, compared to its average volume of 2,227,284. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm’s fifty day moving average price is $4.23 and its 200-day moving average price is $5.97. Maravai LifeSciences has a 1-year low of $2.37 and a 1-year high of $11.56. The firm has a market cap of $651.52 million, a P/E ratio of -1.57 and a beta of -0.08.

Insider Buying and Selling

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now directly owns 167,618 shares in the company, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MRVI shares. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Bank of America dropped their price target 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. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. Finally, Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.