MRVI DEADLINE TODAY: Maravai LifeSciences (MRVI) Investors Alerted to Today's Lead Plaintiff Deadline in Securities Class Action

Core Viewpoint - Maravai LifeSciences Holdings, Inc. reported disappointing fourth-quarter 2024 earnings, missing analyst expectations and facing a significant price target downgrade due to concerns over its financial outlook and ongoing legal issues [1][4]. Financial Performance - The company posted an adjusted loss per share of $0.06, which was wider than the expected loss of $0.04, with quarterly revenue at $56.6 million, slightly below the consensus forecast of $56.67 million [2]. - For the full year, Maravai reported revenue of $259 million, consistent with its guidance, but its GAAP net loss widened to $260 million from a $138 million loss in 2023 [3]. Analyst Reactions - Following the disappointing results, Stifel analysts reduced their price target for Maravai by 50%, from $10.00 to $5.00, reflecting concerns about the company's near-term financial outlook and weaker-than-expected revenues and EBITDA [4]. Legal Issues - Maravai is facing a securities class action lawsuit alleging improper accounting practices, including failure to disclose significant financial issues and misleading statements [5]. - The lawsuit claims that Maravai's stock price fell nearly 22% after the company announced a delay in its fiscal 2024 earnings release due to the need for more time to complete its financial close [5]. Accounting Concerns - CFO Kevin Herde acknowledged errors in revenue recognition, specifically a $3.9 million misrecording due to timing issues related to a shipment [6]. - The company also recorded an $11.9 million non-cash goodwill impairment charge related to its Alphazyme acquisition, indicating material weaknesses in internal controls over revenue recognition and goodwill assessments [7][9].