Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.67.

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

Institutional Investors Weigh In On Maravai LifeSciences

Large investors have recently added to or reduced their stakes in the stock. Norden Group LLC bought a new position in shares of Maravai LifeSciences during the 1st quarter valued at approximately $290,000. Principal Financial Group Inc. increased its position in Maravai LifeSciences by 3,349.6% during the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after acquiring an additional 398,306 shares during the last quarter. Quent Capital LLC raised its stake in shares of Maravai LifeSciences by 26,315.8% in the first quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock valued at $131,000 after acquiring an additional 15,000 shares during the period. Jennison Associates LLC bought a new stake in shares of Maravai LifeSciences in the 1st quarter worth about $3,415,000. Finally, 12 West Capital Management LP boosted its stake in shares of Maravai LifeSciences by 13.8% during the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after purchasing an additional 1,600,000 shares during the period. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Stock Up 0.7 %

NASDAQ MRVI opened at $7.46 on Monday. The stock’s 50-day moving average price is $8.27 and its 200-day moving average price is $8.51. The company has a market capitalization of $1.88 billion, a P/E ratio of -7.54 and a beta of 0.02. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 52 week low of $4.52 and a 52 week high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last issued 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 for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. Maravai LifeSciences’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts predict that Maravai LifeSciences will post -0.17 earnings per share for the current year.

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.