The Goldman Sachs Group Boosts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $8.00

Maravai LifeSciences (NASDAQ:MRVI) had its price objective raised by The Goldman Sachs Group from $7.00 to $8.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

MRVI has been the subject of several other research reports. Robert W. Baird boosted their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an outperform rating in a report on Thursday, May 9th. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Craig Hallum started coverage on shares of Maravai LifeSciences in a research report on Wednesday, April 10th. They set a buy rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $10.88.

Maravai LifeSciences Price Performance

Shares of Maravai LifeSciences stock traded up $0.06 on Thursday, reaching $8.54. The stock had a trading volume of 2,097,507 shares, compared to its average volume of 2,341,972. The business’s 50 day moving average is $8.15 and its two-hundred day moving average is $8.01. The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.15 billion, a P/E ratio of -8.63 and a beta of 0.02. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. As a group, research analysts anticipate that Maravai LifeSciences will post -0.15 EPS for the current year.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the completion of the transaction, the director now owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRVI. 12 West Capital Management LP raised its position in shares of Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after acquiring an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Maravai LifeSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after purchasing an additional 34,232 shares in the last quarter. Mackenzie Financial Corp lifted its position in Maravai LifeSciences by 4.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock valued at $33,858,000 after buying an additional 238,335 shares during the period. Braidwell LP boosted its holdings in shares of Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after buying an additional 1,065,778 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Maravai LifeSciences by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after buying an additional 598,530 shares during the period. 50.25% of the stock is currently owned by institutional investors.

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.