Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down to $13.60

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.60, but opened at $12.88. Maravai LifeSciences shares last traded at $13.24, with a volume of 354,449 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp decreased their target price on Maravai LifeSciences from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, February 23rd. Stifel Nicolaus decreased their price objective on Maravai LifeSciences from $18.00 to $17.00 in a report on Tuesday, May 9th. Credit Suisse Group lowered Maravai LifeSciences from an “outperform” rating to a “neutral” rating and cut their target price for the company from $18.00 to $14.00 in a research note on Tuesday. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Maravai LifeSciences from $25.00 to $23.00 in a research note on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.80.

Maravai LifeSciences Price Performance

The company’s 50 day moving average price is $13.73 and its 200 day moving average price is $14.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.69 and a current ratio of 6.13. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 11.65 and a beta of -0.23.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $79.03 million for the quarter, compared to the consensus estimate of $79.72 million. Maravai LifeSciences had a net margin of 21.36% and a return on equity of 38.41%. The company’s revenue for the quarter was down 67.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts predict that Maravai LifeSciences Holdings, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVI. Massachusetts Financial Services Co. MA boosted its stake in Maravai LifeSciences by 11.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 14,150,891 shares of the company’s stock worth $361,273,000 after purchasing an additional 1,459,720 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Maravai LifeSciences by 32.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 8,189,798 shares of the company’s stock worth $114,739,000 after buying an additional 2,011,683 shares in the last quarter. BlackRock Inc. grew its holdings in Maravai LifeSciences by 2.2% during the 1st quarter. BlackRock Inc. now owns 5,899,915 shares of the company’s stock worth $82,658,000 after acquiring an additional 126,007 shares during the last quarter. JPMorgan Chase & Co. increased its position in Maravai LifeSciences by 9.1% in the 4th quarter. JPMorgan Chase & Co. now owns 3,911,032 shares of the company’s stock valued at $55,967,000 after acquiring an additional 326,260 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Maravai LifeSciences by 118.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,326,948 shares of the company’s stock worth $47,609,000 after acquiring an additional 1,804,248 shares during the last quarter. 48.67% of the stock is owned by institutional investors and hedge funds.

About Maravai LifeSciences

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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 in the United States and internationally. 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.