Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $10.75 Consensus Target Price from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $10.88.

Several analysts have recently weighed in on MRVI shares. UBS Group boosted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group lifted their price objective on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th.

Insider Buying and Selling at Maravai LifeSciences

In other Maravai LifeSciences news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total value of $97,520,954.94. Following the transaction, the director now directly owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently modified their holdings of the company. 12 West Capital Management LP raised its position in shares of Maravai LifeSciences by 13.8% during the first 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 during the period. Vanguard Group Inc. grew its holdings in Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after buying an additional 34,232 shares in the last quarter. Millennium Management LLC grew its holdings in Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Maravai LifeSciences by 16.8% during the second 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 in the last quarter. Finally, Braidwell LP grew its holdings in Maravai LifeSciences by 26.8% during the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after buying an additional 1,065,778 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

Maravai LifeSciences stock opened at $8.99 on Wednesday. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $8.18 and its two-hundred day moving average price is $8.16. The stock has a market cap of $2.26 billion, a PE ratio of -9.08 and a beta of 0.02.

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. The firm had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. As a group, analysts expect that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal 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.