Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report)’s share price traded down 2.9% on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $8.00 to $7.00. The Goldman Sachs Group currently has a neutral rating on the stock. Maravai LifeSciences traded as low as $7.35 and last traded at $7.35. 35,321 shares changed hands during trading, a decline of 99% from the average session volume of 2,404,140 shares. The stock had previously closed at $7.57.
A number of other research firms have also weighed in on MRVI. Robert W. Baird increased their target price on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 target price for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $11.44.
Insider Buying and Selling
In related news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total value of $97,520,954.94. Following the completion of the transaction, the director now directly owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is owned by insiders.
Hedge Funds Weigh In On Maravai LifeSciences
A number of institutional investors and hedge funds have recently made changes to their positions in MRVI. GAMMA Investing LLC increased its stake in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,711 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $30,000. Performa Ltd US LLC grew its holdings in shares of Maravai LifeSciences by 112.4% during the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after buying an additional 3,175 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter valued at approximately $42,000. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $69,000. Institutional investors own 50.25% of the company’s stock.
Maravai LifeSciences Trading Up 2.0 %
The stock’s fifty day moving average price is $8.67 and its 200 day moving average price is $7.64. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.94 billion, a PE ratio of -7.80 and a beta of 0.02.
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The firm had revenue of $64.18 million for the quarter, compared to analysts’ expectations of $60.84 million. On average, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current year.
Maravai LifeSciences Company Profile
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.