Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.67.

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

Maravai LifeSciences Stock Down 1.5 %

Shares of NASDAQ:MRVI opened at $7.02 on Monday. The company has a market capitalization of $1.77 billion and a price-to-earnings ratio of -7.09. The company has a 50 day moving average of $8.43 and a two-hundred day moving average of $8.54. Maravai LifeSciences has a 52-week low of $4.52 and a 52-week high of $11.56. 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 (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm 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) earnings per share. Maravai LifeSciences’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that Maravai LifeSciences will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. China Universal Asset Management Co. Ltd. lifted its holdings in Maravai LifeSciences by 74.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,225 shares of the company’s stock worth $226,000 after acquiring an additional 11,621 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $97,000. E. Ohman J or Asset Management AB raised its position in shares of Maravai LifeSciences by 28.8% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 232,751 shares of the company’s stock worth $1,934,000 after purchasing an additional 52,000 shares during the period. Blue Trust Inc. lifted its holdings in shares of Maravai LifeSciences by 181.1% in the 3rd quarter. Blue Trust Inc. now owns 17,409 shares of the company’s stock worth $145,000 after purchasing an additional 11,215 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Maravai LifeSciences by 38.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 32,034 shares of the company’s stock valued at $266,000 after purchasing an additional 8,863 shares during the period. 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.