Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $10.67 Average PT from Brokerages

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.67.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. UBS Group lifted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. The Goldman Sachs Group cut their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th.

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $7.63 on Monday. The stock has a 50-day moving average of $8.33 and a two-hundred day moving average of $8.52. Maravai LifeSciences has a one year low of $4.52 and a one year high of $11.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The stock has a market cap of $1.92 billion and a P/E ratio of -7.71.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, research analysts predict that Maravai LifeSciences will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in MRVI. GAMMA Investing LLC increased its holdings in shares of Maravai LifeSciences by 310.2% in 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences in the second quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at approximately $42,000. Blue Trust Inc. purchased a new position in Maravai LifeSciences in the second quarter worth approximately $44,000. Finally, Custom Index Systems LLC purchased a new position in Maravai LifeSciences in the third quarter worth approximately $97,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

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.