Craig Hallum assumed coverage on shares of Maravai LifeSciences (NASDAQ:MRVI - Free Report) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $15.00 target price on the stock.
Several other brokerages have also commented on MRVI. Royal Bank of Canada raised their price target on Maravai LifeSciences from $12.00 to $14.00 and gave the company an outperform rating in a research note on Friday, February 23rd. Bank of America raised shares of Maravai LifeSciences from a neutral rating to a buy rating and cut their target price for the company from $10.00 to $8.00 in a research report on Tuesday, December 12th. Finally, Stifel Nicolaus lowered their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a buy rating for the company in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences has a consensus rating of Moderate Buy and a consensus target price of $11.56.
View Our Latest Research Report on Maravai LifeSciences
Maravai LifeSciences Trading Up 1.1 %
Shares of Maravai LifeSciences stock traded up $0.09 on Wednesday, reaching $8.60. The company had a trading volume of 2,264,049 shares, compared to its average volume of 2,717,438. The firm's 50-day moving average price is $7.14 and its two-hundred day moving average price is $6.80. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $16.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -9.31 and a beta of 0.01.
Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The business had revenue of $74.14 million for the quarter, compared to analysts' expectations of $62.99 million. As a group, research analysts predict that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Maravai LifeSciences
Several institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA raised its stake in Maravai LifeSciences by 163.8% in the third quarter. Glenmede Trust Co. NA now owns 1,108,554 shares of the company's stock valued at $11,086,000 after buying an additional 688,403 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of Maravai LifeSciences by 171.9% in the 3rd quarter. Hudson Bay Capital Management LP now owns 659,397 shares of the company's stock valued at $6,594,000 after purchasing an additional 416,876 shares during the last quarter. Mesirow Institutional Investment Management Inc. raised its position in shares of Maravai LifeSciences by 33.6% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 926,277 shares of the company's stock valued at $9,263,000 after purchasing an additional 232,901 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $1,047,000. Finally, Seven Eight Capital LP purchased a new position in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $172,000. 50.25% of the stock is owned by hedge funds and other institutional investors.
About Maravai LifeSciences
(
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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.
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