Maravai LifeSciences (NASDAQ:MRVI) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Maravai LifeSciences to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $7.38.
• Maravai shares opened at $8.52 after rising 7.8%; the stock’s 52-week range is $2.55 to $9.42, and its market capitalization is approximately $2.21 billion.
• The company exceeded quarterly expectations, reporting a loss of $0.02 per share versus a projected loss of $0.04 and revenue of $51.44 million versus the $48.67 million consensus estimate. Institutional investors own about 50.25% of the stock.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Several other research analysts also recently commented on MRVI. Weiss Ratings reissued a "sell (d-)" rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wall Street Zen cut Maravai LifeSciences from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. UBS Group boosted their target price on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company raised their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.38.

Maravai LifeSciences Trading Up 7.8%

Maravai LifeSciences stock opened at $8.52 on Monday. The stock has a market cap of $2.21 billion, a P/E ratio of -16.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. Maravai LifeSciences has a 1 year low of $2.55 and a 1 year high of $9.42. The firm's 50 day moving average price is $7.12 and its 200-day moving average price is $5.51.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $51.44 million for the quarter, compared to the consensus estimate of $48.67 million. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. On average, equities analysts predict that Maravai LifeSciences will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Maravai LifeSciences by 0.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company's stock valued at $12,069,000 after acquiring an additional 39,600 shares in the last quarter. General American Investors Co. Inc. grew its stake in Maravai LifeSciences by 8.3% in the first quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company's stock worth $4,857,000 after purchasing an additional 130,877 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company's stock worth $4,015,000 after purchasing an additional 558,050 shares during the period. Brummer Multi Strategy AB increased its holdings in Maravai LifeSciences by 66.0% during the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company's stock worth $2,150,000 after purchasing an additional 302,036 shares during the period. Finally, Eversept Partners LP raised its position in Maravai LifeSciences by 147.2% during the 4th quarter. Eversept Partners LP now owns 718,582 shares of the company's stock valued at $2,335,000 after purchasing an additional 427,909 shares in the last quarter. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai's Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.