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

Maravai LifeSciences (NASDAQ:MRVI)‘s stock had its “market perform” rating restated by research analysts at William Blair in a research report issued on Friday, MarketBeat Ratings reports.

Several other research analysts have also weighed in on the company. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research report on Friday, August 16th. The Goldman Sachs Group cut their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. UBS Group increased 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. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.56.

Maravai LifeSciences Trading Down 2.4 %

Shares of Maravai LifeSciences stock opened at $7.84 on Friday. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $11.56. The firm has a market cap of $1.98 billion, a PE ratio of -7.92 and a beta of 0.02. The business’s fifty day moving average is $8.18 and its two-hundred day moving average 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Analysts anticipate that Maravai LifeSciences will post -0.17 earnings per share for the current year.

Institutional Trading of Maravai LifeSciences

Several large investors have recently modified their holdings of MRVI. GAMMA Investing LLC grew its stake 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 valued at $26,000 after acquiring an additional 2,711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences during the second quarter valued at about $32,000. Headlands Technologies LLC acquired a new stake in shares of Maravai LifeSciences during the first quarter valued at about $42,000. Blue Trust Inc. acquired a new stake in shares of Maravai LifeSciences during the second quarter valued at about $44,000. Finally, Venturi Wealth Management LLC acquired a new position in Maravai LifeSciences in the third quarter worth about $47,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.