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

Maravai LifeSciences (NASDAQ:MRVI) had its price target reduced by stock analysts at Robert W. Baird from $10.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 86.72% from the company’s current price.

MRVI has been the subject of a number of other research reports. UBS Group boosted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Finally, Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Four investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.56.

Maravai LifeSciences Trading Down 38.5 %

NASDAQ:MRVI opened at $4.82 on Friday. Maravai LifeSciences has a 52 week low of $4.52 and a 52 week high of $11.56. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -7.92 and a beta of 0.02. The company’s 50 day moving average price is $8.18 and its 200-day moving average price is $8.51. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71.

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

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently made changes to their positions in MRVI. GAMMA Investing LLC boosted its position in shares of Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Maravai LifeSciences during the 2nd quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in shares of Maravai LifeSciences during the first quarter valued at about $42,000. Blue Trust Inc. bought a new stake in shares of Maravai LifeSciences in the second quarter worth about $44,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Maravai LifeSciences in the third quarter worth about $47,000. Institutional investors 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.