Maravai LifeSciences (NASDAQ:MRVI) Price Target Cut to $9.00 by Analysts at Robert W. Baird

Maravai LifeSciences (NASDAQ:MRVI) had its target price decreased by Robert W. Baird from $10.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley lowered shares of 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. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th. The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Finally, UBS Group raised their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences currently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Maravai LifeSciences Price Performance

Maravai LifeSciences stock 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 firm has a market cap of $1.28 billion, a P/E ratio of -5.13 and a beta of 0.02. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $8.10 and its two-hundred day simple moving average is $8.50. Maravai LifeSciences has a 1-year low of $4.52 and a 1-year high of $11.56.

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

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently bought and sold shares of MRVI. Point72 Asset Management L.P. boosted its stake in Maravai LifeSciences by 149.6% during the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after buying an additional 2,109,199 shares in the last quarter. 12 West Capital Management LP boosted its stake in shares of Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after purchasing an additional 1,600,000 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $5,373,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

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.