Maravai LifeSciences (NASDAQ:MRVI) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Thursday, Zacks.com reports.
According to Zacks, "Maravai LifeSciences Holdings Inc. is a life sciences company providing products for the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. The company offer products and services in the fields of nucleic acid synthesis, bioprocess impurity detection and analysis, protein labeling and detection to biopharmaceutical, vaccine, diagnostics and cell and gene therapy companies. Maravai LifeSciences Holdings Inc. is based in SAN DIEGO, Calif. "
MRVI has been the subject of several other reports. UBS Group initiated coverage on shares of Maravai LifeSciences in a report on Monday, December 14th. They set a "buy" rating and a $32.00 price target for the company. Jefferies Financial Group began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 15th. They set a "buy" rating on the stock. William Blair began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 15th. They set an "outperform" rating on the stock. Stifel Nicolaus began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 15th. They set a "buy" rating and a $31.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 15th. They set an "outperform" rating and a $31.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of "Buy" and a consensus price target of $38.33.
Shares of NASDAQ:MRVI opened at $32.46 on Thursday. The company has a 50-day simple moving average of $34.95. Maravai LifeSciences has a one year low of $23.62 and a one year high of $40.24.
Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Monday, March 1st. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $98.35 million during the quarter, compared to analysts' expectations of $87.48 million. As a group, sell-side analysts anticipate that Maravai LifeSciences will post 0.36 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Maravai LifeSciences in the 4th quarter valued at $79,000. CIBC Asset Management Inc purchased a new position in shares of Maravai LifeSciences in the 4th quarter valued at $230,000. Hsbc Holdings PLC purchased a new position in shares of Maravai LifeSciences in the 4th quarter valued at $333,000. CI Investments Inc. purchased a new position in shares of Maravai LifeSciences in the 4th quarter valued at $397,000. Finally, Cerity Partners LLC purchased a new stake in Maravai LifeSciences during the 4th quarter worth $422,000.
Maravai LifeSciences Company Profile
There is no company description available for Maravai LifeSciences Holdings Inc
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