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

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upped their target price on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Stock Performance

Maravai LifeSciences stock opened at $6.57 on Friday. The stock has a 50-day simple moving average of $5.80 and a 200 day simple moving average of $4.30. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. Maravai LifeSciences has a 12-month low of $1.99 and a 12-month high of $7.44. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -9.25 and a beta of 0.63.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in shares of Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after buying an additional 3,209 shares during the last quarter. Quantessence Capital LLC bought a new position in Maravai LifeSciences in the third quarter valued at approximately $31,000. Abel Hall LLC bought a new position in Maravai LifeSciences in the third quarter valued at approximately $33,000. CIBC Bancorp USA Inc. acquired a new stake in Maravai LifeSciences during the 3rd quarter worth $33,000. Finally, Virtu Financial LLC acquired a new stake in Maravai LifeSciences during the 4th quarter worth $34,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.