Maravai LifeSciences (NASDAQ:MRVI) PT Lowered to $7.00 at The Goldman Sachs Group

Maravai LifeSciences (NASDAQ:MRVI) had its target price trimmed by The Goldman Sachs Group from $8.00 to $7.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently commented on MRVI. Robert W. Baird upped their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Craig Hallum initiated coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They set a buy rating and a $15.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $11.44.

Maravai LifeSciences Stock Up 11.4 %

Shares of NASDAQ:MRVI opened at $8.60 on Tuesday. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $13.31. The stock’s fifty day moving average price is $8.67 and its 200-day moving average price is $7.64.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The firm had revenue of $64.18 million for the quarter, compared to analysts’ expectations of $60.84 million. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. As a group, research analysts anticipate that Maravai LifeSciences will post -0.15 earnings per share for the current year.

Insider Transactions at Maravai LifeSciences

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently made changes to their positions in the business. 12 West Capital Management LP boosted its stake in shares of Maravai LifeSciences by 13.8% in the first 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 during the period. Vanguard Group Inc. boosted its stake in Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after buying an additional 34,232 shares during the last quarter. Mackenzie Financial Corp boosted its stake 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 last quarter. Braidwell LP boosted its stake in Maravai LifeSciences by 26.8% during the fourth 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 during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Maravai LifeSciences by 37.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock valued at $19,357,000 after buying an additional 810,957 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

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.