Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Free Report) has received an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.78.
A number of analysts recently commented on the company. UBS Group lifted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th. Finally, Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target on the stock.
Read Our Latest Stock Report on Maravai LifeSciences
Maravai LifeSciences Stock Performance
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The business had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, analysts anticipate that Maravai LifeSciences will post -0.17 EPS for the current year.
Institutional Trading of Maravai LifeSciences
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after purchasing an additional 117,120 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Maravai LifeSciences by 3,349.6% during the 1st 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. Dragoneer Investment Group LLC purchased a new stake in Maravai LifeSciences during the 2nd quarter worth about $5,373,000. Jennison Associates LLC purchased a new stake in Maravai LifeSciences during the 1st quarter worth about $3,415,000. Finally, Point72 Europe London LLP purchased a new stake in Maravai LifeSciences during the 4th quarter worth about $17,059,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.
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.
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