Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $10.67 Average PT from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.67.

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th. Morgan Stanley lowered shares of Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 8th. Finally, UBS Group raised their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently added to or reduced their stakes in MRVI. GAMMA Investing LLC increased its holdings in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock valued at $26,000 after purchasing an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences in the 2nd quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Maravai LifeSciences in the 1st quarter valued at approximately $42,000. Blue Trust Inc. acquired a new stake in Maravai LifeSciences in the 2nd quarter valued at approximately $44,000. Finally, Custom Index Systems LLC acquired a new stake in Maravai LifeSciences in the 3rd quarter valued at approximately $97,000. Institutional investors and hedge funds own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock traded up $0.19 during midday trading on Monday, reaching $7.21. The company had a trading volume of 1,769,971 shares, compared to its average volume of 1,212,401. The company has a market capitalization of $1.82 billion and a P/E ratio of -7.28. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. The firm's fifty day simple moving average is $8.39 and its 200-day simple moving average is $8.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $73.40 million during the quarter, compared to analysts' expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, equities analysts anticipate that Maravai LifeSciences will post -0.17 EPS for the current year.

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.