Maravai LifeSciences (NASDAQ:MRVI) Receives Outperform Rating from Royal Bank of Canada

Maravai LifeSciences (NASDAQ:MRVI)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They presently have a $15.00 price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 65.93% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research note on Tuesday. The Goldman Sachs Group boosted their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird boosted their price objective on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, UBS Group lifted their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.88.

Maravai LifeSciences Stock Up 13.4 %

Shares of MRVI traded up $1.07 during mid-day trading on Friday, reaching $9.04. The company’s stock had a trading volume of 7,258,214 shares, compared to its average volume of 2,361,025. The company’s 50 day moving average is $8.12 and its 200 day moving average is $8.05. The stock has a market cap of $2.28 billion, a PE ratio of -9.30 and a beta of 0.02. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47.

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

Insider Buying and Selling

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction on 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 directly owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Solutions LLC increased its position in Maravai LifeSciences by 83.3% during the fourth quarter. Simplicity Solutions LLC now owns 23,760 shares of the company’s stock worth $156,000 after purchasing an additional 10,796 shares during the last quarter. Handelsbanken Fonder AB grew its position in Maravai LifeSciences by 15.4% during the fourth quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $167,000 after acquiring an additional 3,400 shares during the period. New York State Common Retirement Fund increased its stake in Maravai LifeSciences by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 213,788 shares of the company’s stock worth $1,400,000 after acquiring an additional 4,079 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Maravai LifeSciences by 62,802.8% in the 4th quarter. Russell Investments Group Ltd. now owns 112,596 shares of the company’s stock valued at $738,000 after purchasing an additional 112,417 shares in the last quarter. Finally, Sivik Global Healthcare LLC purchased a new stake in shares of Maravai LifeSciences during the 4th quarter worth about $1,344,000. Institutional investors and hedge funds 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.