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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.67.

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $11.00 to $10.00 in a report on Tuesday, August 13th. UBS Group lifted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th.

Institutional Investors Weigh In On Maravai LifeSciences

Large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. increased its holdings in shares of Maravai LifeSciences by 11.7% in the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after purchasing an additional 1,796 shares during the period. Creative Planning raised its position in Maravai LifeSciences by 4.4% during the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after buying an additional 1,881 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,711 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Maravai LifeSciences by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after acquiring an additional 3,575 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in Maravai LifeSciences by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after purchasing an additional 3,725 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Price Performance

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

Maravai LifeSciences (NASDAQ:MRVI) last issued its 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 the consensus estimate of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. As a group, equities analysts anticipate that Maravai LifeSciences will post -0.17 EPS for the current year.

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.