Maravai LifeSciences (NASDAQ:MRVI) Receives “Market Perform” Rating from William Blair

Maravai LifeSciences (NASDAQ:MRVI)‘s stock had its “market perform” rating restated by equities research analysts at William Blair in a research note issued to investors on Friday, Marketbeat.com reports.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. The Goldman Sachs Group reduced their target price on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a report on Friday, August 16th. UBS Group upped their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences currently has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Stock Down 35.3 %

Shares of NASDAQ MRVI traded down $2.76 during trading on Friday, hitting $5.08. The stock had a trading volume of 11,404,870 shares, compared to its average volume of 1,316,189. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The firm has a fifty day moving average of $8.10 and a two-hundred day moving average of $8.50. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56. The company has a market capitalization of $1.28 billion, a PE ratio of -5.13 and a beta of 0.02.

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

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position 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 valued at $25,200,000 after purchasing an additional 2,109,199 shares in the last quarter. 12 West Capital Management LP increased its position in shares of Maravai LifeSciences by 13.8% during 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 during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after buying an additional 844,325 shares in the last quarter. Dragoneer Investment Group LLC bought a new stake in Maravai LifeSciences in the 2nd quarter worth approximately $5,373,000. Finally, Renaissance Technologies LLC boosted its stake in Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after buying an additional 668,552 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other 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.