Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Has Average Price Target of $6.83

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.38.

A number of brokerages have commented on MRVI. Wells Fargo & Company upped their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. TD Cowen began coverage on shares of Maravai LifeSciences in a research note on Monday. They set a “buy” rating and a $9.00 price target for the company. Wall Street Zen lowered Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. UBS Group increased their price objective on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Maravai LifeSciences by 49.0% in the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Maravai LifeSciences during the 1st quarter valued at about $37,000. Squarepoint Ops LLC purchased a new position in Maravai LifeSciences during the 2nd quarter valued at about $128,000. R Squared Ltd increased its position in Maravai LifeSciences by 76.0% during the 1st quarter. R Squared Ltd now owns 27,394 shares of the company’s stock valued at $78,000 after purchasing an additional 11,827 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $207,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 5.4%

Shares of MRVI opened at $7.43 on Monday. The firm has a market capitalization of $1.93 billion, a P/E ratio of -14.29 and a beta of 0.54. Maravai LifeSciences has a 12-month low of $2.55 and a 12-month high of $9.42. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $7.16 and a 200-day moving average price of $5.58.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The company had revenue of $51.44 million for the quarter, compared to the consensus estimate of $48.67 million. Equities research analysts expect that Maravai LifeSciences will post -0.2 earnings per share for the current year.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.