Analysts Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Price Target at $11.56

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.56.

MRVI has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus reduced their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, Craig Hallum initiated 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.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $7.73 on Thursday. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $16.62. The company has a 50 day simple moving average of $7.48 and a two-hundred day simple moving average of $6.76. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -8.59 and a beta of 0.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.41 and a current ratio of 8.00.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The business had revenue of $74.14 million for the quarter, compared to the consensus estimate of $62.99 million. Analysts expect that Maravai LifeSciences will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its holdings in Maravai LifeSciences by 1.3% in the first quarter. Captrust Financial Advisors now owns 33,535 shares of the company’s stock worth $1,183,000 after purchasing an additional 442 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Maravai LifeSciences during the 1st quarter worth $28,000. Public Employees Retirement System of Ohio boosted its stake in shares of Maravai LifeSciences by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 56,289 shares of the company’s stock worth $805,000 after acquiring an additional 1,181 shares during the last quarter. Comerica Bank purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth $180,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Maravai LifeSciences by 96.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock worth $34,000 after acquiring an additional 1,662 shares during 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.