Robert W. Baird Lowers Maravai LifeSciences (NASDAQ:MRVI) Price Target to $2.00

Maravai LifeSciences (NASDAQ:MRVI - Free Report) had its price target reduced by Robert W. Baird from $3.00 to $2.00 in a research report released on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Baird R W cut shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 25th. Bank of America decreased their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. UBS Group reduced their price objective on shares of Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $6.64.

Maravai LifeSciences Stock Up 7.1%

Shares of NASDAQ MRVI traded up $0.14 during midday trading on Tuesday, reaching $2.10. The company's stock had a trading volume of 1,860,282 shares, compared to its average volume of 2,346,092. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a fifty-two week low of $1.67 and a fifty-two week high of $11.56. The stock has a market capitalization of $534.11 million, a price-to-earnings ratio of -1.28 and a beta of 0.19. The stock has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $4.09.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The firm had revenue of $46.85 million during the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences's revenue was down 26.9% compared to the same quarter last year. Equities research analysts predict that Maravai LifeSciences will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently modified their holdings of MRVI. Alyeska Investment Group L.P. boosted its position in shares of Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock valued at $29,045,000 after acquiring an additional 3,161,072 shares during the period. Marshall Wace LLP boosted its position in shares of Maravai LifeSciences by 17,912.9% in the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company's stock valued at $15,143,000 after acquiring an additional 2,763,072 shares during the period. Philosophy Capital Management LLC bought a new stake in shares of Maravai LifeSciences in the first quarter valued at about $5,731,000. Massachusetts Financial Services Co. MA boosted its position in shares of Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock valued at $25,420,000 after acquiring an additional 1,062,485 shares during the period. Finally, 12 West Capital Management LP boosted its position in shares of Maravai LifeSciences by 8.0% in the first quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company's stock valued at $27,672,000 after acquiring an additional 930,000 shares during the period. Institutional investors own 50.25% of the company's stock.

About Maravai LifeSciences

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.