Analysts Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $10.33

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.33.

MRVI has been the subject of a number of research reports. UBS Group upped their price objective on shares of 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 initiated coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently made changes to their positions in MRVI. Point72 DIFC Ltd bought a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $22,108,000. Point72 Asset Management L.P. raised its position in shares of Maravai LifeSciences by 149.6% during the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock valued at $25,200,000 after buying an additional 2,109,199 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Maravai LifeSciences in the second quarter valued at $5,373,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $5.22 on Friday. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The stock has a market cap of $1.32 billion, a P/E ratio of -3.18 and a beta of 0.02. The company has a 50 day moving average of $7.37 and a 200 day moving average of $8.27.

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.