Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Has Average Price Target of $6.83

Key Points

• Analyst consensus is “Hold” for Maravai LifeSciences, with three buys, one hold and one sell among five covering firms. The average 12-month price target is $6.83, below the stock’s reported $7.90 opening price.
• MRVI shares have risen from a 52-week low of $2.55 to a high of $9.42, with 50-day and 200-day moving averages of $7.08 and $5.47, respectively. Hedge funds and other institutional investors own 50.25% of the stock.
• The company beat quarterly expectations, reporting an adjusted loss of $0.02 per share versus the expected $0.04 loss and revenue of $51.44 million versus $48.67 million expected. Despite the revenue and EPS beat, Maravai remains unprofitable, with a negative net margin of 37.07%.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) has received an average recommendation of "Hold" from the five ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.83.

MRVI has been the topic of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wells Fargo & Company lifted their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an "overweight" rating in a research report on Friday, August 7th. UBS Group upped their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Wall Street Zen downgraded shares of Maravai LifeSciences from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, TD Cowen started coverage on shares of Maravai LifeSciences in a research note on Monday. They set a "buy" rating for the company.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock valued at $27,000 after acquiring an additional 3,209 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Maravai LifeSciences in the 1st quarter worth $37,000. R Squared Ltd raised its holdings in Maravai LifeSciences by 76.0% during the first quarter. R Squared Ltd now owns 27,394 shares of the company's stock valued at $78,000 after acquiring an additional 11,827 shares during the period. Squarepoint Ops LLC bought a new position in shares of Maravai LifeSciences in the second quarter worth about $128,000. Finally, AXQ Capital LP grew its position in shares of Maravai LifeSciences by 63.8% during the fourth quarter. AXQ Capital LP now owns 43,994 shares of the company's stock worth $143,000 after purchasing an additional 17,135 shares in the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $7.90 on Monday. Maravai LifeSciences has a fifty-two week low of $2.55 and a fifty-two week high of $9.42. The firm's 50-day simple moving average is $7.08 and its two-hundred day simple moving average is $5.47. The stock has a market cap of $2.05 billion, a PE ratio of -15.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05.

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

About Maravai LifeSciences

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.

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