Brokerages Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $11.56

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.56.

Several brokerages have issued reports on MRVI. Royal Bank of Canada increased their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Craig Hallum began coverage on shares of Maravai LifeSciences in a research report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus decreased their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd.

Hedge Funds Weigh In On Maravai LifeSciences

Several large investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC lifted its stake in Maravai LifeSciences by 24.6% during the first quarter. Bleakley Financial Group LLC now owns 29,613 shares of the company’s stock worth $257,000 after purchasing an additional 5,853 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Maravai LifeSciences by 11.7% during the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after purchasing an additional 1,796 shares during the last quarter. Headlands Technologies LLC bought a new position in Maravai LifeSciences during the first quarter worth $42,000. 12 West Capital Management LP lifted its stake in Maravai LifeSciences by 13.8% during the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after purchasing an additional 1,600,000 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Maravai LifeSciences during the first quarter worth $3,415,000. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Down 1.0 %

Shares of NASDAQ:MRVI opened at $8.87 on Monday. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70. Maravai LifeSciences has a 52-week low of $4.52 and a 52-week high of $16.62. The company has a 50 day moving average of $8.07 and a two-hundred day moving average of $6.72. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -9.73 and a beta of 0.03.

Maravai LifeSciences (NASDAQ:MRVI) last issued 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 firm had revenue of $74.14 million during the quarter, compared to analyst estimates of $62.99 million. As a group, analysts forecast that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal 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.