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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.78.

MRVI has been the subject of a number of research reports. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MRVI. Clearbridge Investments LLC increased its stake in shares of Maravai LifeSciences by 31.7% during the second quarter. Clearbridge Investments LLC now owns 1,054,109 shares of the company’s stock worth $7,547,000 after acquiring an additional 253,887 shares during the period. Algert Global LLC acquired a new position in shares of Maravai LifeSciences during the second quarter worth about $1,080,000. Mackenzie Financial Corp increased its stake in shares of Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Maravai LifeSciences during the second quarter worth about $311,000. Finally, Millennium Management LLC increased its stake in shares of Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after acquiring an additional 653,639 shares during the period. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock opened at $8.61 on Friday. The stock has a market cap of $2.17 billion, a P/E ratio of -8.70 and a beta of 0.01. The company has a fifty day simple moving average of $8.77 and a 200-day simple moving average of $8.52. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. 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 (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The firm had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. During the same period last year, the firm posted ($0.06) earnings per share. Maravai LifeSciences’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that Maravai LifeSciences will post -0.17 EPS for the current fiscal 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.