The price of Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) shares last traded on Wall Street fell -3.04% to $7.97.
MRVI stock price is now -2.83% away from the 50-day moving average and 7.42% away from the 200-day moving average. The market capitalization of the company currently stands at $1.06B.
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With the price target reduced from $11 to $10, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Maravai LifeSciences Holdings Inc (NASDAQ: MRVI). On April 10, 2024, Craig Hallum recently initiated its ‘Buy’ rating on the stock quoting a target price of $15, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, GTCR INVESTMENT XI LLC, Director sold 9,940,974 shares of the company’s stock on May 28 ’24. The stock was sold for $97,570,660 at an average price of $9.81. Upon completion of the transaction, the Director now directly owns 20,150,005 shares in the company, valued at $160.6 million. A total of 17.53% of the company’s stock is owned by insiders.
During the past 12 months, Maravai LifeSciences Holdings Inc has had a low of $4.52 and a high of $11.56. As of last week, the company has a debt-to-equity ratio of 1.29, a current ratio of 10.00, and a quick ratio of 9.28. The fifty day moving average price for MRVI is $8.2023 and a two-hundred day moving average price translates $7.419725 for the stock.
The latest earnings results from Maravai LifeSciences Holdings Inc (NASDAQ: MRVI) was released for 2024-06-30. The net profit margin was -47.41% and return on equity was -27.59% for MRVI. The company reported revenue of $73.4 million for the quarter, compared to $68.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.51 percent. For the current quarter, analysts expect MRVI to generate $67.7M in revenue.
