Brokerages Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $10.67

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.67.

Several equities research analysts recently weighed in on MRVI shares. UBS Group boosted their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 target price on shares of Maravai LifeSciences in a research report on Friday, August 16th. The Goldman Sachs Group dropped their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, 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 for the company.

Maravai LifeSciences Stock Performance

MRVI opened at $7.46 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The stock has a market capitalization of $1.88 billion and a price-to-earnings ratio of -7.54. The company has a fifty day moving average of $8.27 and a 200 day moving average of $8.51. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS 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 the consensus estimate of $71.64 million. During the same period in the previous year, the company posted ($0.06) earnings per share. Maravai LifeSciences’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Maravai LifeSciences will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its holdings in Maravai LifeSciences by 149.6% in the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the last quarter. 12 West Capital Management LP boosted its position in shares of Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after purchasing an additional 1,600,000 shares in the last quarter. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Maravai LifeSciences during the 2nd quarter valued at about $5,373,000. Finally, Renaissance Technologies LLC raised its stake in Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after buying an additional 668,552 shares during the last quarter. Hedge funds and other 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.