Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Down After Earnings Miss
Maravai LifeSciences (NASDAQ:MRVI) shares gapped down to $2.55 after reporting disappointing earnings, with an EPS of ($0.08) against an estimate of ($0.06). Revenue was $41.63 million, below the expected $49.02 million. Analysts have mixed ratings, with a consensus rating of "Hold" and a target price of $5.22. Institutional investors own 50.25% of the stock, which has a market cap of $703.52 million and a P/E ratio of -2.02. The stock is currently trading down 4.7%.
Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $2.89, but opened at $2.55. Maravai LifeSciences shares last traded at $2.8560, with a volume of 166,794 shares trading hands.
The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Maravai LifeSciences had a negative return on equity of 17.60% and a negative net margin of 90.03%.The firm had revenue of $41.63 million for the quarter, compared to the consensus estimate of $49.02 million.
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Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on MRVI shares. Weiss Ratings restated a "sell (d-)" rating on shares of Maravai LifeSciences in a research report on Tuesday, October 14th. Royal Bank Of Canada reduced their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.22.
Read Our Latest Stock Report on Maravai LifeSciences
Institutional Investors Weigh In On Maravai LifeSciences
Institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Maravai LifeSciences during the 1st quarter valued at $666,000. Philosophy Capital Management LLC bought a new stake in shares of Maravai LifeSciences during the first quarter worth $5,731,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Maravai LifeSciences by 437.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 493,582 shares of the company's stock valued at $1,091,000 after buying an additional 401,673 shares in the last quarter. Strs Ohio bought a new position in shares of Maravai LifeSciences in the first quarter valued at about $429,000. Finally, Parkman Healthcare Partners LLC lifted its position in Maravai LifeSciences by 88.6% during the 1st quarter. Parkman Healthcare Partners LLC now owns 660,000 shares of the company's stock worth $1,459,000 after buying an additional 310,000 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company's stock.
Maravai LifeSciences Trading Down 4.7%
The company has a current ratio of 5.16, a quick ratio of 4.49 and a debt-to-equity ratio of 0.68. The stock has a market cap of $703.52 million, a P/E ratio of -2.02 and a beta of 0.34. The business's fifty day simple moving average is $2.96 and its 200 day simple moving average is $2.54.
Maravai LifeSciences Company Profile
(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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