Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Has Consensus Target Price of $7.38 According to Brokerages

Key Points

• Maravai LifeSciences has a “Moderate Buy” consensus rating from five analysts, with a 12-month average price target of $7.38. Ratings include two buys, one strong buy, one hold and one sell.
• Recent analyst targets range from $6.50 at Wells Fargo to $9.00 at TD Cowen, while UBS raised its target to $8.00 but maintained a neutral rating.
• The stock opened at $8.46, near the upper end of its 12-month range, after the company beat quarterly revenue and adjusted EPS expectations; however, it remains unprofitable, reporting a negative net margin of 37.07%.

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) have received a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.38.

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of 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 target price on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a "neutral" rating in a report on Wednesday, September 9th. TD Cowen assumed coverage on shares of Maravai LifeSciences in a research report on Monday, October 5th. They issued a "buy" rating and a $9.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. Finally, Wall Street Zen lowered Maravai LifeSciences from a "buy" rating to a "hold" rating in a report on Saturday, August 29th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in Maravai LifeSciences during the third quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Maravai LifeSciences during the 3rd quarter valued at $58,000. Royal Bank of Canada lifted its stake in Maravai LifeSciences by 49.0% during the 1st 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences during the 1st quarter valued at $37,000. Finally, Squarepoint Ops LLC purchased a new position in Maravai LifeSciences during the 2nd quarter worth $128,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $8.46 on Friday. The company has a market cap of $2.20 billion, a P/E ratio of -16.27 and a beta of 0.54. The company has a fifty day simple moving average of $7.51 and a 200 day simple moving average of $5.22. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. Maravai LifeSciences has a 12-month low of $2.55 and a 12-month high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The firm had revenue of $51.44 million for the quarter, compared to the consensus estimate of $48.67 million. Sell-side analysts predict that Maravai LifeSciences will post -0.18 earnings per share for the current fiscal year.

Maravai LifeSciences Company Profile

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

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.

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.