Maravai LifeSciences (NASDAQ:MRVI) Coverage Initiated at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a research note issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $15.00 price target on the stock. Craig Hallum’s target price suggests a potential upside of 74.62% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus lowered their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Finally, Bank of America raised shares of Maravai LifeSciences from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $10.00 to $8.00 in a report on Tuesday, December 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.56.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $8.59 on Wednesday. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.16 billion, a P/E ratio of -9.54 and a beta of 0.01. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $16.62. The firm’s 50 day moving average is $7.26 and its two-hundred day moving average is $6.82.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $74.14 million for the quarter, compared to analysts’ expectations of $62.99 million. Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. Analysts expect that Maravai LifeSciences will post -0.15 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation N.A. bought a new stake in Maravai LifeSciences in the 1st quarter valued at about $28,000. Comerica Bank acquired a new position in Maravai LifeSciences during the 2nd quarter valued at about $180,000. Meeder Asset Management Inc. acquired a new position in Maravai LifeSciences during the 1st quarter valued at about $31,000. Lazard Asset Management LLC increased its stake in Maravai LifeSciences by 8,207.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,323 shares of the company’s stock valued at $47,000 after buying an additional 3,283 shares during the period. Finally, Signaturefd LLC increased its stake in Maravai LifeSciences by 99.9% during the 3rd quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock valued at $34,000 after buying an additional 1,681 shares during the period. 50.25% of the stock is currently owned by institutional investors.

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.