Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Has Average Target Price of $6.83

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.38.

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. TD Cowen assumed coverage on Maravai LifeSciences in a report on Monday. They issued a “buy” rating and a $9.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. Wall Street Zen lowered shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, UBS Group raised their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares during the period. Bank of New York Mellon Corp grew its holdings in Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after buying an additional 8,955 shares in the last quarter. R Squared Ltd increased its position in shares of Maravai LifeSciences by 76.0% during the first quarter. R Squared Ltd now owns 27,394 shares of the company’s stock valued at $78,000 after buying an additional 11,827 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Maravai LifeSciences in the first quarter worth about $37,000. Finally, AXQ Capital LP boosted its position in shares of Maravai LifeSciences by 63.8% in the fourth quarter. AXQ Capital LP now owns 43,994 shares of the company’s stock valued at $143,000 after acquiring an additional 17,135 shares during the period. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $7.44 on Monday. The stock’s 50-day moving average is $7.18 and its 200-day moving average is $5.62. Maravai LifeSciences has a 1-year low of $2.55 and a 1-year high of $9.42. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The stock has a market cap of $1.93 billion, a P/E ratio of -14.31 and a beta of 0.54.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The firm had revenue of $51.44 million during the quarter, compared to analysts’ expectations of $48.67 million. Equities research analysts anticipate that Maravai LifeSciences will post -0.20 earnings per share for the current year.

About Maravai LifeSciences

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.