UBS Group Raises Maravai LifeSciences (NASDAQ:MRVI) Price Target to $11.00

Maravai LifeSciences (NASDAQ:MRVI) had its price target lifted by UBS Group from $8.50 to $11.00 in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on MRVI. Craig Hallum began coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a buy rating and a $15.00 price target on the stock. The Goldman Sachs Group lowered their target price on Maravai LifeSciences from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Finally, Robert W. Baird lifted their price target on Maravai LifeSciences from $8.00 to $10.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $10.88.

Maravai LifeSciences Stock Up 0.8 %

Shares of MRVI traded up $0.06 during mid-day trading on Thursday, hitting $8.54. 2,097,507 shares of the company traded hands, compared to its average volume of 2,341,972. The company has a market capitalization of $2.15 billion, a PE ratio of -8.63 and a beta of 0.02. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $8.15 and a 200 day moving average of $8.01. 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 earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Equities research analysts anticipate that Maravai LifeSciences will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’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 value of $97,520,954.94. Following the completion of the sale, the director now directly owns 20,150,005 shares in the company, valued at $197,671,549.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds have recently modified their holdings of MRVI. QRG Capital Management Inc. lifted its stake in Maravai LifeSciences by 11.7% in the 1st quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after purchasing an additional 1,796 shares in the last quarter. GAMMA Investing LLC raised its stake in Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares during the period. M&T Bank Corp boosted its holdings in Maravai LifeSciences by 17.3% in the 4th quarter. M&T Bank Corp now owns 20,107 shares of the company’s stock valued at $131,000 after purchasing an additional 2,972 shares during the last quarter. Performa Ltd US LLC grew its stake in shares of Maravai LifeSciences by 112.4% in the 4th quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after buying an additional 3,175 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Maravai LifeSciences by 15.4% during the 4th quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock worth $167,000 after buying an additional 3,400 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.