Robert W. Baird Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $9.00

Maravai LifeSciences (NASDAQ:MRVI) had its target price decreased by investment analysts at Robert W. Baird from $10.00 to $9.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 86.72% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. UBS Group raised their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock. The Goldman Sachs Group lowered their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. Finally, Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.56.

Maravai LifeSciences Price Performance

MRVI opened at $4.82 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -7.92 and a beta of 0.02. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. The stock has a 50-day moving average price of $8.18 and a 200-day moving average price of $8.51.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Maravai LifeSciences will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. grew its stake in Maravai LifeSciences by 11.7% in the first 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 during the period. Creative Planning grew its position in shares of Maravai LifeSciences by 4.4% in 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 period. GAMMA Investing LLC increased its stake 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 worth $26,000 after acquiring an additional 2,711 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Maravai LifeSciences by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $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 3rd quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after acquiring an additional 3,725 shares during the period. Hedge funds and other 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.