Maravai LifeSciences (NASDAQ:MRVI) Stock Rating Upgraded by KeyCorp

Key Points

• KeyCorp upgraded Maravai LifeSciences to “overweight” from “sector weight,” setting an $11 price target—about 42.9% above the stock’s cited current price.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $8.10, though ratings range from strong buy to sell.
• Maravai beat quarterly estimates, reporting a loss of $0.03 per share versus the expected $0.06 loss, and revenue of $45.85 million versus the $43.56 million consensus.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) was upgraded by analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a research note issued on Thursday, FinViz reports. The firm currently has a $11.00 price objective on the stock. KeyCorp's price objective would indicate a potential upside of 42.86% from the company's current price.

Several other research analysts also recently commented on MRVI. TD Cowen started coverage on Maravai LifeSciences in a research note on Monday, October 5th. They set a "buy" rating and a $9.00 target price for the company. Wells Fargo & Company increased their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Maravai LifeSciences from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Finally, UBS Group lifted their price objective on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has an average rating of "Moderate Buy" and an average price target of $8.10.

Maravai LifeSciences Price Performance

NASDAQ MRVI opened at $7.70 on Thursday. The firm's 50 day moving average is $7.39 and its 200-day moving average is $5.39. The company has a quick ratio of 2.98, a current ratio of 4.66 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.00 billion, a PE ratio of -17.91 and a beta of 0.61. Maravai LifeSciences has a 12-month low of $2.80 and a 12-month high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. Maravai LifeSciences had a negative net margin of 30.83% and a negative return on equity of 12.44%. The business had revenue of $45.85 million during the quarter, compared to the consensus estimate of $43.56 million. Equities research analysts anticipate that Maravai LifeSciences will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in Maravai LifeSciences in the third quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maravai LifeSciences in the third quarter worth about $58,000. Royal Bank of Canada boosted its stake in shares of Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after purchasing an additional 3,209 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $78,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Maravai LifeSciences during the 3rd quarter valued at approximately $79,000. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences provides products and services used by biotechnology and pharmaceutical companies in the development and production of therapeutics, vaccines, and other biologic products. Its offerings include specialized nucleic acid materials and analytical testing services that support research, manufacturing, and quality control. Through TriLink BioTechnologies, the company supplies modified nucleotides, custom RNA and DNA, and related materials used in applications such as messenger RNA research and production.

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