Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $11.44.

Several equities analysts have recently issued reports on MRVI shares. Craig Hallum started coverage on Maravai LifeSciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird increased their price objective on Maravai LifeSciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group lowered their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th.

Maravai LifeSciences Stock Up 7.6 %

Shares of NASDAQ MRVI opened at $9.16 on Friday. The company has a current ratio of 11.32, a quick ratio of 10.47 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.31 billion, a PE ratio of -9.25 and a beta of 0.02. The stock’s fifty day simple moving average is $8.38 and its two-hundred day simple moving average is $7.81. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $12.10.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $64.18 million during the quarter, compared to analyst estimates of $60.84 million. Maravai LifeSciences had a negative return on equity of 4.28% and a negative net margin of 47.81%. As a group, analysts expect that Maravai LifeSciences will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the completion of the sale, the director now directly owns 20,150,005 shares of the company’s stock, valued at approximately $197,671,549.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Maravai LifeSciences by 2.6% during the third quarter. Wellington Management Group LLP now owns 70,658 shares of the company’s stock worth $707,000 after acquiring an additional 1,779 shares during the period. SG Americas Securities LLC bought a new position in Maravai LifeSciences in the 4th quarter worth about $614,000. Pacer Advisors Inc. boosted its holdings in shares of Maravai LifeSciences by 37.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock valued at $19,357,000 after acquiring an additional 810,957 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Maravai LifeSciences during the fourth quarter worth approximately $69,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Maravai LifeSciences by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,292 shares of the company’s stock worth $100,000 after buying an additional 11,901 shares in the last quarter. Institutional investors and hedge funds 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.