Maravai LifeSciences (NASDAQ:MRVI) Stock Price Down 6.5% – Time to Sell?

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) traded down 6.5% during trading on Tuesday. The company traded as low as $6.59 and last traded at $6.6020. Approximately 2,376,345 shares were traded during trading, a decline of 4% from the average daily volume of 2,488,211 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

MRVI has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. UBS Group upped their target price on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Wells Fargo & Company increased their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, TD Cowen initiated coverage on Maravai LifeSciences in a report on Monday, October 5th. They set a “buy” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.38.

Maravai LifeSciences Stock Performance

The stock has a market cap of $1.81 billion, a P/E ratio of -13.24 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The company has a fifty day moving average of $7.20 and a 200 day moving average of $5.71.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. The company had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. On average, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Maravai LifeSciences by 49.0% in 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. State of Alaska Department of Revenue acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth approximately $47,000. Bank of New York Mellon Corp grew its position in shares of Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock worth $973,000 after purchasing an additional 8,955 shares in the last quarter. R Squared Ltd grew its position in shares of Maravai LifeSciences by 76.0% during the 1st quarter. R Squared Ltd now owns 27,394 shares of the company’s stock worth $78,000 after purchasing an additional 11,827 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Maravai LifeSciences during the first quarter worth approximately $37,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Company Profile

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

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.