Wells Fargo & Company Forecasts Strong Price Appreciation for Maravai LifeSciences (NASDAQ:MRVI) Stock

Key Points

• Wells Fargo raised its price target on Maravai LifeSciences to $5.50 (from $4.50) and carries an "overweight" rating, implying roughly a 23.7% upside from the prior close.
• The stock's consensus is a "Moderate Buy" (four Buys, one Hold, one Sell) with a consensus target of $5.63, and Wall Street Zen recently upgraded Maravai from "sell" to "hold."
• Maravai posted a slight quarterly beat (EPS -$0.04 vs. -$0.07 and revenue $49.87M vs. $49.06M) but remains unprofitable (net margin -70.4%, negative ROE) and is forecast to post about -$0.26 EPS for the year; shares traded at $4.45 with a $1.14B market cap.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) had its price target upped by stock analysts at Wells Fargo & Company from $4.50 to $5.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 23.65% from the company's previous close.

Separately, Wall Street Zen upgraded Maravai LifeSciences from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5.63.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI traded up $0.51 on Friday, hitting $4.45. The company's stock had a trading volume of 3,493,374 shares, compared to its average volume of 1,570,403. The company has a current ratio of 6.60, a quick ratio of 5.69 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average of $3.33 and a two-hundred day moving average of $3.39. The firm has a market capitalization of $1.14 billion, a P/E ratio of -4.97 and a beta of 0.62. Maravai LifeSciences has a one year low of $1.95 and a one year high of $4.83.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $49.87 million for the quarter, compared to analyst estimates of $49.06 million. Maravai LifeSciences had a negative return on equity of 22.79% and a negative net margin of 70.40%. Research analysts predict that Maravai LifeSciences will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Maravai LifeSciences by 64.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company's stock valued at $4,015,000 after purchasing an additional 558,050 shares in the last quarter. Brummer Multi Strategy AB boosted its holdings in shares of Maravai LifeSciences by 66.0% in the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company's stock valued at $2,150,000 after purchasing an additional 302,036 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Maravai LifeSciences by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company's stock valued at $973,000 after purchasing an additional 8,955 shares in the last quarter. General American Investors Co. Inc. boosted its holdings in shares of Maravai LifeSciences by 8.3% in the 1st quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company's stock valued at $4,857,000 after purchasing an additional 130,877 shares in the last quarter. Finally, R Squared Ltd boosted its holdings in shares of Maravai LifeSciences by 76.0% in the 1st quarter. R Squared Ltd now owns 27,394 shares of the company's stock valued at $78,000 after purchasing an additional 11,827 shares in the last quarter. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc NASDAQ: MRVI is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company's offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai's platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.

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