Maravai LifeSciences (NASDAQ:MRVI) Stock Moved Up to Strong-Buy by TD Cowen

TD Cowen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

MRVI has been the subject of several other research reports. UBS Group increased their target price on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Wells Fargo & Company increased their price objective on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.38.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $8.52 on Monday. Maravai LifeSciences has a 1 year low of $2.55 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The company’s 50-day moving average is $7.12 and its 200 day moving average is $5.51. The stock has a market capitalization of $2.21 billion, a P/E ratio of -16.38 and a beta of 0.54.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $51.44 million during the quarter, compared to the consensus estimate of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. On average, sell-side analysts expect that Maravai LifeSciences will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after purchasing an additional 3,209 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Maravai LifeSciences by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after purchasing an additional 8,955 shares during the last quarter. R Squared Ltd boosted its holdings in Maravai LifeSciences by 76.0% in the first quarter. R Squared Ltd now owns 27,394 shares of the company’s stock valued at $78,000 after purchasing an additional 11,827 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Maravai LifeSciences during the 1st quarter worth about $37,000. Finally, Squarepoint Ops LLC acquired a new stake in Maravai LifeSciences during the 2nd quarter worth about $128,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.