William Blair Reiterates Market Perform Rating for Maravai LifeSciences (NASDAQ:MRVI)

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

Several other research firms also recently weighed in on MRVI. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Maravai LifeSciences in a research note 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. The Goldman Sachs Group reduced their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.56.

Maravai LifeSciences Stock Down 2.4 %

Shares of NASDAQ MRVI opened at $7.84 on Friday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.92 and a beta of 0.02. 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 business has a 50-day moving average of $8.18 and a two-hundred day moving average of $8.51. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last posted its 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 47.41% and a negative return on equity of 4.78%. The firm had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Maravai LifeSciences will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of MRVI. GAMMA Investing LLC grew 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 worth $26,000 after acquiring an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences during the 2nd quarter valued at $32,000. Headlands Technologies LLC acquired a new stake in Maravai LifeSciences during the 1st quarter valued at $42,000. Blue Trust Inc. acquired a new stake in Maravai LifeSciences during the 2nd quarter valued at $44,000. Finally, Venturi Wealth Management LLC acquired a new stake in Maravai LifeSciences during the 3rd quarter valued at $47,000. Institutional investors and hedge funds 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.