Maravai LifeSciences (NASDAQ:MRVI) Cut to Hold at Wall Street Zen

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

MRVI has been the subject of a number of other reports. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $6.00 target price on shares of Maravai LifeSciences in a research note on Friday, May 8th. Finally, Wells Fargo & Company lifted their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences has an average rating of “Hold” and an average price target of $5.50.

Maravai LifeSciences Stock Down 2.3%

Maravai LifeSciences stock opened at $6.42 on Friday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -9.04 and a beta of 0.63. The company’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $4.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.91 and a quick ratio of 4.96. Maravai LifeSciences has a fifty-two week low of $1.99 and a fifty-two week high of $7.44.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $65.84 million for the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. As a group, sell-side analysts anticipate that Maravai LifeSciences will post -0.2 EPS for the current year.

Insider Buying and Selling at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel directly owned 360,767 shares of the company’s stock, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after purchasing an additional 3,209 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $34,000. Insigneo Advisory Services LLC bought a new stake in shares of Maravai LifeSciences in the fourth quarter valued at approximately $34,000. Quantessence Capital LLC acquired a new stake in Maravai LifeSciences during the third quarter worth approximately $31,000. Finally, Stifel Financial Corp acquired a new stake in Maravai LifeSciences during the fourth quarter worth approximately $36,000. 50.25% of the stock is owned by institutional investors.

About Maravai LifeSciences

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.