Morgan Stanley Downgrades Maravai LifeSciences (NASDAQ:MRVI) to Equal Weight

Maravai LifeSciences (NASDAQ:MRVI) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $10.00 target price on the stock, down from their previous target price of $11.00. Morgan Stanley’s price target points to a potential upside of 21.65% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Robert W. Baird upped their target price on shares of 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 increased 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. Finally, UBS Group lifted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.75.

Maravai LifeSciences Price Performance

NASDAQ MRVI opened at $8.22 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.47 and a current ratio of 11.32. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -8.30 and a beta of 0.02. The stock has a 50-day moving average of $8.13 and a 200 day moving average of $8.06. Maravai LifeSciences has a one year low of $4.52 and a one year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. The business had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Maravai LifeSciences will post -0.15 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Jump Financial LLC bought a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $225,000. Principal Financial Group Inc. increased its position in shares of Maravai LifeSciences by 3,349.6% during the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock worth $3,556,000 after purchasing an additional 398,306 shares in the last quarter. Performa Ltd US LLC lifted its holdings in shares of Maravai LifeSciences by 112.4% during the 4th quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock valued at $39,000 after purchasing an additional 3,175 shares during the last quarter. Sivik Global Healthcare LLC purchased a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $1,344,000. Finally, Jennison Associates LLC acquired a new stake in shares of Maravai LifeSciences in the 1st quarter worth $3,415,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

About Maravai LifeSciences

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.