Maravai LifeSciences (NASDAQ:MRVI) Price Target Lowered to $10.00 at Craig Hallum

Maravai LifeSciences (NASDAQ:MRVI) had its price target cut by investment analysts at Craig Hallum from $12.00 to $10.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 405.05% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Bank of America reduced their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Robert W. Baird dropped their target price on shares of Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, UBS Group dropped their target price on shares of Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.64.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $1.98 on Tuesday. The firm has a fifty day moving average price of $2.12 and a 200-day moving average price of $4.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a market cap of $503.59 million, a PE ratio of -1.21 and a beta of 0.19. Maravai LifeSciences has a 1 year low of $1.67 and a 1 year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $46.85 million during the quarter, compared to analysts’ expectations of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. Maravai LifeSciences’s revenue was down 26.9% compared to the same quarter last year. Equities analysts anticipate that Maravai LifeSciences will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. lifted its position in Maravai LifeSciences by 145.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after purchasing an additional 3,161,072 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Maravai LifeSciences by 29.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after purchasing an additional 1,062,485 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Maravai LifeSciences by 4.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Maravai LifeSciences by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after acquiring an additional 62,123 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Maravai LifeSciences by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after acquiring an additional 9,769 shares during the last quarter. Institutional investors 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.