Maravai LifeSciences (NASDAQ:MRVI) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $10.00 price target on the stock.

A number of other analysts have also commented on the company. Morgan Stanley lowered Maravai LifeSciences from an overweight rating to an equal weight rating and lowered their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Royal Bank of Canada restated an outperform rating and set a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. UBS Group raised their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a report on Thursday, August 8th. The Goldman Sachs Group raised their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a neutral rating in a report on Thursday, August 8th. Finally, Robert W. Baird raised their target price on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences currently has a consensus rating of Moderate Buy and an average target price of $10.78.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $9.21 on Tuesday. Maravai LifeSciences has a twelve month low of $4.52 and a twelve month high of $11.56. The firm has a market cap of $2.32 billion, a PE ratio of -9.30 and a beta of 0.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.47 and a current ratio of 11.32. The business has a fifty day moving average of $8.41 and a 200-day moving average of $8.29.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. On average, equities research analysts predict that Maravai LifeSciences will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC lifted its holdings in shares of Maravai LifeSciences by 31.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,054,109 shares of the company’s stock valued at $7,547,000 after purchasing an additional 253,887 shares in the last quarter. Algert Global LLC bought a new position in shares of Maravai LifeSciences during the 2nd quarter valued at about $1,080,000. Mackenzie Financial Corp lifted its holdings in shares of Maravai LifeSciences by 16.8% during the 2nd 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. The Manufacturers Life Insurance Company bought a new position in shares of Maravai LifeSciences during the 2nd quarter valued at about $311,000. Finally, Millennium Management LLC raised its position in Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after buying an additional 653,639 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

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.