Maravai LifeSciences (NASDAQ:MRVI) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences (NASDAQ:MRVI) in a report released on Tuesday, Benzinga reports. The brokerage issued an overweight rating and a $10.00 price target on the stock.

Several other equities research analysts have also commented on MRVI. Robert W. Baird boosted their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. The Goldman Sachs Group boosted their price objective on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Morgan Stanley lowered Maravai LifeSciences from an overweight rating to an equal weight rating and cut their price objective for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. UBS Group boosted their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of Moderate Buy and a consensus price target of $10.78.

Maravai LifeSciences Stock Up 2.8 %

Shares of MRVI opened at $9.03 on Tuesday. The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56. The stock’s 50 day moving average is $8.32 and its two-hundred day moving average is $8.28. The firm has a market cap of $2.27 billion, a P/E ratio of -9.12 and a beta of 0.02.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The business had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new position in Maravai LifeSciences in the fourth quarter valued at approximately $225,000. Principal Financial Group Inc. lifted its holdings in Maravai LifeSciences by 3,349.6% in the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after acquiring an additional 398,306 shares during the last quarter. Performa Ltd US LLC lifted its holdings in Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after acquiring an additional 3,175 shares during the last quarter. Sivik Global Healthcare LLC acquired a new position in Maravai LifeSciences in the fourth quarter valued at approximately $1,344,000. Finally, Jennison Associates LLC acquired a new position in Maravai LifeSciences in the first quarter valued at approximately $3,415,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.