William Blair Reiterates Market Perform Rating for Maravai LifeSciences (NASDAQ:MRVI)

Maravai LifeSciences (NASDAQ:MRVI)‘s stock had its “market perform” rating reaffirmed by William Blair in a report released on Friday, Marketbeat Ratings reports.

A number of other equities analysts have also recently commented on MRVI. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. The Goldman Sachs Group dropped their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, UBS Group increased their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Stock Down 35.3 %

NASDAQ MRVI traded down $2.76 during trading hours on Friday, hitting $5.08. 11,404,870 shares of the company traded hands, compared to its average volume of 1,316,189. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The business’s 50-day moving average is $8.10 and its 200-day moving average is $8.50. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -5.13 and a beta of 0.02. Maravai LifeSciences has a twelve month low of $4.52 and a twelve month high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same period in the prior year, the business posted ($0.06) earnings per share. Maravai LifeSciences’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Maravai LifeSciences will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently bought and sold shares of MRVI. GAMMA Investing LLC grew its stake in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after buying an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Maravai LifeSciences during the second quarter worth $32,000. Headlands Technologies LLC bought a new position in shares of Maravai LifeSciences in the first quarter valued at $42,000. Blue Trust Inc. acquired a new position in shares of Maravai LifeSciences during the second quarter valued at about $44,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences during the third quarter worth about $47,000. 50.25% of the stock is owned by 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.