The Goldman Sachs Group Lowers Maravai LifeSciences (NASDAQ:MRVI) Price Target to $7.00

Maravai LifeSciences (NASDAQ:MRVIGet Free Report) had its price target cut by equities research analysts at The Goldman Sachs Group from $8.00 to $7.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 9.33% from the stock’s previous close.

A number of other research firms also recently weighed in on MRVI. Robert W. Baird increased their price target on Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Craig Hallum initiated coverage on Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $11.44.

Read Our Latest Stock Analysis on Maravai LifeSciences

Maravai LifeSciences Stock Up 2.0 %

NASDAQ MRVI opened at $7.72 on Tuesday. The stock’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $7.64. Maravai LifeSciences has a one year low of $4.52 and a one year high of $13.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47. The firm has a market cap of $1.94 billion, a PE ratio of -7.80 and a beta of 0.02.

Maravai LifeSciences (NASDAQ:MRVIGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The firm had revenue of $64.18 million for the quarter, compared to analyst estimates of $60.84 million. As a group, sell-side analysts forecast that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the sale, the director now owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,711 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $30,000. Performa Ltd US LLC grew its holdings in shares of Maravai LifeSciences by 112.4% in the 4th 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the 1st quarter valued at about $42,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Maravai LifeSciences in the 4th quarter valued at about $69,000. Institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

(Get Free Report)

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.

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