Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.33.

Several research firms have recently weighed in on MRVI. Robert W. Baird reduced their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. The Goldman Sachs Group lowered 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. Royal Bank of Canada cut their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective for the company.

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently modified their holdings of the company. 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 purchasing an additional 34,232 shares during the period. Millennium Management LLC lifted its position in shares of Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after buying an additional 653,639 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of 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 acquiring an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $5.92 on Friday. The stock has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $8.19. Maravai LifeSciences has a 52-week low of $4.28 and a 52-week high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm has a market capitalization of $1.49 billion, a PE ratio of -3.61 and a beta of 0.02.

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.