Analysts Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) PT at $11.56

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $11.56.

MRVI has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Royal Bank of Canada lifted their target price on Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Craig Hallum started coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 target price for the company.

Maravai LifeSciences Stock Down 3.5 %

Shares of NASDAQ:MRVI opened at $8.11 on Thursday. 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 business has a fifty day moving average of $7.38 and a two-hundred day moving average of $6.77. The stock has a market cap of $2.04 billion, a P/E ratio of -9.01 and a beta of 0.01. Maravai LifeSciences has a 52-week low of $4.52 and a 52-week high of $16.62.

Maravai LifeSciences (NASDAQ:MRVI) last released 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 business 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%. On average, research analysts expect that Maravai LifeSciences will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its stake in Maravai LifeSciences by 14.1% in the first quarter. Wedmont Private Capital now owns 42,439 shares of the company’s stock valued at $361,000 after buying an additional 5,242 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $187,000. Virtu Financial LLC acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $136,000. GSA Capital Partners LLP acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $320,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at approximately $2,571,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.