Maravai LifeSciences (NASDAQ:MRVI – Free Report) had its price target upped by UBS Group from $8.50 to $11.00 in a report issued on Thursday, Marketbeat reports. UBS Group currently has a neutral rating on the stock.
A number of other brokerages have also issued reports on MRVI. Robert W. Baird raised their price target on 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 decreased their target price 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, July 9th. Finally, Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research report on Wednesday, April 10th. They set a buy rating and a $15.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $10.88.
Read Our Latest Report on Maravai LifeSciences
Maravai LifeSciences Trading Up 0.8 %
Maravai LifeSciences (NASDAQ:MRVI – Get Free Report) last issued its quarterly 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 47.81% and a negative return on equity of 4.28%. The business had revenue of $73.40 million during the quarter, compared to analyst estimates of $71.64 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, analysts anticipate that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.
Insider Activity at Maravai LifeSciences
In related news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of Maravai LifeSciences stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the transaction, the director now owns 20,150,005 shares in the company, valued at approximately $197,671,549.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Maravai LifeSciences
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its position in Maravai LifeSciences by 83.3% in the 4th quarter. Bleakley Financial Group LLC now owns 23,760 shares of the company’s stock valued at $156,000 after buying an additional 10,796 shares during the last quarter. Simplicity Solutions LLC boosted its holdings in Maravai LifeSciences by 83.3% in the fourth quarter. Simplicity Solutions LLC now owns 23,760 shares of the company’s stock valued at $156,000 after purchasing an additional 10,796 shares during the last quarter. Mackenzie Financial Corp grew its stake in Maravai LifeSciences by 4.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company’s stock valued at $33,858,000 after purchasing an additional 238,335 shares in the last quarter. VELA Investment Management LLC increased its holdings in Maravai LifeSciences by 74.9% during the 4th quarter. VELA Investment Management LLC now owns 74,317 shares of the company’s stock worth $487,000 after purchasing an additional 31,824 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Maravai LifeSciences by 15.4% in the 4th quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $167,000 after purchasing an additional 3,400 shares in the last quarter. 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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