Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) had its price objective dropped by equities researchers at Robert W. Baird from $10.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective points to a potential upside of 77.51% from the stock's current price.
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Maravai LifeSciences from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. UBS Group boosted their target price 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 reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 price target for the company. Finally, William Blair reaffirmed a "market perform" rating on shares of Maravai LifeSciences in a report on Friday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $10.33.
Read Our Latest Research Report on MRVI
Maravai LifeSciences Stock Down 35.3 %
Shares of MRVI traded down $2.77 during midday trading on Friday, hitting $5.07. The company had a trading volume of 11,399,123 shares, compared to its average volume of 2,247,043. The company's 50 day moving average price is $8.18 and its 200 day moving average price is $8.51. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -4.83 and a beta of 0.02. 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 - Get Free Report) last released its 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 the consensus estimate of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. Maravai LifeSciences's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. On average, equities research analysts predict that Maravai LifeSciences will post -0.17 EPS for the current year.
Institutional Trading of Maravai LifeSciences
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock worth $26,000 after buying an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new stake in shares of Maravai LifeSciences during the 1st quarter worth about $42,000. Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences during the 2nd quarter worth about $44,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth about $47,000. 50.25% of the stock is currently owned by institutional investors.
About Maravai LifeSciences
(
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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.
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