Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down to $10.78

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.78, but opened at $9.99. Maravai LifeSciences shares last traded at $9.15, with a volume of 475,774 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MRVI. Royal Bank of Canada boosted their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird upped their price target on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus dropped their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.44.

View Our Latest Analysis on MRVI

Maravai LifeSciences Stock Down 16.0 %

The firm’s 50-day moving average price is $9.00 and its 200-day moving average price is $7.18. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -9.24 and a beta of 0.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47.

Maravai LifeSciences (NASDAQ:MRVIGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The business had revenue of $64.18 million during the quarter, compared to analyst estimates of $60.84 million. Sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MRVI. Bayesian Capital Management LP bought a new position in Maravai LifeSciences during the 1st quarter valued at $643,000. Bamco Inc. NY boosted its stake in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Maravai LifeSciences by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $639,000 after acquiring an additional 3,575 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Maravai LifeSciences by 6,252.8% during the 1st quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock valued at $3,165,000 after acquiring an additional 359,411 shares during the last quarter. Finally, Delap Wealth Advisory LLC bought a new position in Maravai LifeSciences during the 1st quarter valued at $106,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

About Maravai LifeSciences

(Get Free Report)

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.

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