Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $7.72, but opened at $6.85. Maravai LifeSciences shares last traded at $7.2860, with a volume of 305,358 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Maravai LifeSciences in a research note on Monday, October 5th. They set a “buy” rating and a $9.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen cut Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, UBS Group upped their target price on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Price Performance

The firm has a fifty day moving average of $7.42 and a 200 day moving average of $5.29. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.81 billion, a P/E ratio of -13.38 and a beta of 0.61.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $45.85 million during the quarter, compared to analyst estimates of $43.56 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. On average, equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Torrey Growth & Income Advisors purchased a new position in Maravai LifeSciences during the third quarter valued at approximately $283,000. Ethic Inc. grew its holdings in Maravai LifeSciences by 57.1% during the 3rd quarter. Ethic Inc. now owns 16,654 shares of the company’s stock valued at $128,000 after purchasing an additional 6,050 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in Maravai LifeSciences in the third quarter worth $78,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maravai LifeSciences during the third quarter worth $58,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Maravai LifeSciences by 15.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,185 shares of the company’s stock valued at $208,000 after purchasing an additional 3,709 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.