Maravai LifeSciences (NASDAQ:MRVI) Trading Up 6% on Analyst Upgrade

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)’s share price shot up 6% during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $8.00 to $10.00. Robert W. Baird currently has an outperform rating on the stock. Maravai LifeSciences traded as high as $9.53 and last traded at $9.40. 457,966 shares traded hands during trading, a decline of 81% from the average session volume of 2,458,451 shares. The stock had previously closed at $8.87.

Several other research firms have also weighed in on MRVI. Craig Hallum began coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 target price on the stock. Stifel Nicolaus cut their price objective on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Royal Bank of Canada increased their target price on Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.44.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently bought and sold shares of MRVI. Bank of New York Mellon Corp boosted its holdings in Maravai LifeSciences by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 515,123 shares of the company’s stock worth $5,151,000 after purchasing an additional 9,592 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Maravai LifeSciences by 43.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,174 shares of the company’s stock worth $242,000 after purchasing an additional 7,264 shares during the last quarter. Advisor Partners II LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter worth approximately $115,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Maravai LifeSciences by 96.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock valued at $34,000 after buying an additional 1,662 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Maravai LifeSciences by 43.3% in the third quarter. Jennison Associates LLC now owns 2,547,753 shares of the company’s stock valued at $25,478,000 after buying an additional 769,362 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -10.47 and a beta of 0.03. 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 stock’s fifty day moving average is $8.09 and its two-hundred day moving average is $6.73.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.99 million. On average, analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

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.