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

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

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

Maravai LifeSciences Stock Performance

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 2,348,867. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average of $2.09 and a 200 day moving average of $4.03. Maravai LifeSciences has a twelve month low of $1.67 and a twelve month high of $11.50. The firm has a market capitalization of $534.11 million, a PE ratio of -1.28 and a beta of 0.19.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly 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). The company had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The firm's quarterly revenue was down 26.9% on a year-over-year basis. On average, equities analysts expect that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Performa Ltd US LLC raised its stake in Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company's stock valued at $27,000 after purchasing an additional 4,300 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Maravai LifeSciences during the first quarter worth $32,000. Teacher Retirement System of Texas acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at about $37,000. Aigen Investment Management LP purchased a new position in shares of Maravai LifeSciences in the first quarter worth about $37,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company's stock worth $38,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company's stock.

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.