Maravai LifeSciences (NASDAQ:MRVI) Receives “Market Perform” Rating from William Blair

William Blair restated their market perform rating on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research report sent to investors on Friday morning, Marketbeat.com reports.

Several other brokerages have also recently weighed in on MRVI. The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. UBS Group upped their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective on the stock. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI traded down $2.76 during trading on Friday, hitting $5.08. 11,404,870 shares of the company were exchanged, compared to its average volume of 1,316,189. The business’s 50 day moving average is $8.10 and its 200-day moving average is $8.50. The company has a market capitalization of $1.28 billion, a P/E ratio of -5.13 and a beta of 0.02. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 1-year low of $4.52 and a 1-year high of $11.56.

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

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently made changes to their positions in MRVI. Norden Group LLC bought a new position in shares of Maravai LifeSciences in the first quarter worth $290,000. Quent Capital LLC boosted its stake in Maravai LifeSciences by 26,315.8% during the first quarter. Quent Capital LLC now owns 15,057 shares of the company’s stock valued at $131,000 after buying an additional 15,000 shares during the period. 12 West Capital Management LP boosted its stake in Maravai LifeSciences by 13.8% during the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after buying an additional 1,600,000 shares during the period. Headlands Technologies LLC bought a new stake in Maravai LifeSciences during the first quarter valued at $42,000. Finally, QRG Capital Management Inc. boosted its stake in Maravai LifeSciences by 11.7% during the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after buying an additional 1,796 shares during the period. 50.25% of the stock is owned by institutional investors.

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.