Robert W. Baird Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $9.00

Maravai LifeSciences (NASDAQ:MRVI) had its target price cut by Robert W. Baird from $10.00 to $9.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group decreased their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. UBS Group boosted 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. Finally, William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Maravai LifeSciences Trading Down 35.3 %

Shares of MRVI traded down $2.76 on Friday, reaching $5.08. 11,404,870 shares of the company’s stock were exchanged, compared to its average volume of 1,316,189. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56. The stock has a market capitalization of $1.28 billion, a P/E ratio of -5.13 and a beta of 0.02. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $8.10 and a two-hundred day moving average price of $8.50.

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 return on equity of 4.78% and a negative net margin of 47.41%. The business had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. During the same period in the prior year, the firm posted ($0.06) EPS. Maravai LifeSciences’s revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that Maravai LifeSciences will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings 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 purchasing an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $32,000. Headlands Technologies LLC bought a new stake in shares of Maravai LifeSciences in the 1st quarter valued at about $42,000. Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at about $47,000. Finally, Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at about $44,000. 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.