Robert W. Baird Increases Maravai LifeSciences (NASDAQ:MRVI) Price Target to $10.00

Maravai LifeSciences (NASDAQ:MRVI) had its price objective upped by equities research analysts at Robert W. Baird from $8.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 12.74% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada lifted their price objective on Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Stifel Nicolaus dropped their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Craig Hallum assumed coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Maravai LifeSciences Trading Down 1.0 %

Shares of NASDAQ MRVI opened at $8.87 on Thursday. The firm’s 50 day moving average price is $8.09 and its 200-day moving average price is $6.73. Maravai LifeSciences has a 52-week low of $4.52 and a 52-week high of $16.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.41 and a current ratio of 8.00. The company has a market cap of $2.23 billion, a PE ratio of -9.86 and a beta of 0.03.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The business had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.99 million. On average, equities research analysts expect that Maravai LifeSciences will post -0.15 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVI. 12 West Capital Management LP grew its stake in shares of Maravai LifeSciences by 13.8% during the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after acquiring an additional 1,600,000 shares during the period. Mackenzie Financial Corp boosted its position in shares of Maravai LifeSciences by 4.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock worth $33,858,000 after purchasing an additional 238,335 shares during the period. Braidwell LP increased its stake in shares of Maravai LifeSciences by 26.8% in the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after purchasing an additional 1,065,778 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Maravai LifeSciences by 37.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock valued at $19,357,000 after purchasing an additional 810,957 shares during the period. Finally, Point72 Europe London LLP bought a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $17,059,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.