UBS Group Boosts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $11.00

Maravai LifeSciences (NASDAQ:MRVI) had its price target hoisted by equities researchers at UBS Group from $8.50 to $11.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 41.94% from the company’s current price.

A number of other research firms also recently weighed in on MRVI. Robert W. Baird increased their target price on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a research note on Wednesday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price target on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have given 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 a consensus target price of $11.40.

Maravai LifeSciences Stock Down 14.8 %

Shares of NASDAQ MRVI traded down $1.35 during trading on Thursday, hitting $7.75. 900,178 shares of the company traded hands, compared to its average volume of 2,305,897. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.47 and a current ratio of 11.32. The business’s fifty day moving average is $8.16 and its 200 day moving average is $7.98. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -8.09 and a beta of 0.02. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last posted 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 4.28% and a negative net margin of 47.81%. The business had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total value of $97,520,954.94. Following the transaction, the director now owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Europe London LLP purchased a new position in Maravai LifeSciences during the 4th quarter valued at about $17,059,000. 12 West Capital Management LP lifted its position in 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 acquiring an additional 1,600,000 shares during the period. Braidwell LP lifted its position in Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares during the period. Bamco Inc. NY lifted its position in Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares during the period. Finally, Roubaix Capital LLC purchased a new position in Maravai LifeSciences during the 2nd quarter valued at about $3,123,000. 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.