Maravai LifeSciences (NASDAQ:MRVI) Rating Reiterated by 58.com

58.com reissued their downgrade rating on shares of Maravai LifeSciences (NASDAQ:MRVI – Get Rating) in a research note released on Tuesday morning, Benzinga reports.

Several other research firms also recently commented on MRVI. Morgan Stanley decreased their target price on shares of Maravai LifeSciences from $32.00 to $29.00 and set an overweight rating for the company in a research report on Friday, February 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Maravai LifeSciences from $25.00 to $23.00 in a research note on Tuesday, May 9th. Robert W. Baird lowered their target price on shares of Maravai LifeSciences from $25.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday, February 23rd. Royal Bank of Canada lowered their target price on shares of Maravai LifeSciences from $22.00 to $20.00 in a research note on Tuesday, May 9th. Finally, KeyCorp decreased their price target on shares of Maravai LifeSciences from $28.00 to $24.00 and set an overweight rating on the stock in a report on Thursday, February 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Maravai LifeSciences currently has a consensus rating of Moderate Buy and an average target price of $19.80.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $13.22 on Tuesday. The company’s 50 day moving average price is $13.69 and its two-hundred day moving average price is $14.12. Maravai LifeSciences has a 12-month low of $11.89 and a 12-month high of $35.22. The firm has a market cap of $3.32 billion, a PE ratio of 11.50 and a beta of -0.23. The company has a quick ratio of 5.69, a current ratio of 6.13 and a debt-to-equity ratio of 0.60.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its earnings results on Monday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $79.03 million during the quarter, compared to analyst estimates of $79.72 million. Maravai LifeSciences had a net margin of 21.36% and a return on equity of 38.41%. The business’s quarterly revenue was down 67.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 EPS. Equities research analysts predict that Maravai LifeSciences will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in Maravai LifeSciences by 141.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,178,115 shares of the company’s stock valued at $88,409,000 after purchasing an additional 3,618,369 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Maravai LifeSciences by 4,061.8% in the 4th quarter. Mackenzie Financial Corp now owns 2,121,161 shares of the company’s stock valued at $30,354,000 after buying an additional 2,070,193 shares during the period. Norges Bank purchased a new stake in Maravai LifeSciences in the 4th quarter valued at about $28,010,000. Renaissance Technologies LLC raised its holdings in Maravai LifeSciences by 118.5% in the 4th quarter. Renaissance Technologies LLC now owns 3,326,948 shares of the company’s stock valued at $47,609,000 after buying an additional 1,804,248 shares during the period. Finally, Marshall Wace LLP grew its position in Maravai LifeSciences by 285.8% in the 3rd quarter. Marshall Wace LLP now owns 2,077,036 shares of the company’s stock valued at $53,030,000 after acquiring an additional 1,538,680 shares in the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.

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 in the United States and internationally. 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.