Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $5.22 Consensus PT from Brokerages

Key Points

• Maravai LifeSciences Holdings, Inc. has received an average consensus recommendation of "Hold" from eleven brokerages, with one sell, seven hold, and three buy ratings.
• Royal Bank Of Canada has reduced its price target for Maravai from $7.00 to $5.00, maintaining an "outperform" rating.
• The company's stock opened at $2.81 and has experienced a 1-year price range of $1.66 to $9.50, with a market cap of approximately $717.56 million.

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) have been given an average recommendation of "Hold" by the eleven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.2188.

Separately, Royal Bank Of Canada dropped their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Philosophy Capital Management LLC purchased a new position in shares of Maravai LifeSciences in the 1st quarter worth about $5,731,000. Tejara Capital Ltd raised its position in shares of Maravai LifeSciences by 257.8% in the 2nd quarter. Tejara Capital Ltd now owns 1,941,449 shares of the company's stock worth $4,679,000 after purchasing an additional 1,398,900 shares during the last quarter. 12 West Capital Management LP raised its position in Maravai LifeSciences by 8.0% in the 1st quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company's stock worth $27,672,000 after buying an additional 930,000 shares during the last quarter. Deutsche Bank AG raised its position in Maravai LifeSciences by 67.6% in the 1st quarter. Deutsche Bank AG now owns 2,072,239 shares of the company's stock worth $4,580,000 after buying an additional 835,600 shares during the last quarter. Finally, First Pacific Advisors LP purchased a new position in Maravai LifeSciences in the 2nd quarter worth about $1,787,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

NASDAQ MRVI traded down $0.18 on Thursday, reaching $2.70. 3,640,754 shares of the company's stock traded hands, compared to its average volume of 2,270,200. Maravai LifeSciences has a 12 month low of $1.66 and a 12 month high of $8.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.16 and a quick ratio of 4.49. The stock has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.33. The stock has a market cap of $689.48 million, a PE ratio of -1.99 and a beta of 0.29.

Maravai LifeSciences Company Profile

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.