Robert W. Baird Raises Maravai LifeSciences (NASDAQ:MRVI) Price Target to $10.00

Maravai LifeSciences (NASDAQ:MRVI) had its price objective raised by Robert W. Baird from $8.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

MRVI has been the topic of several other reports. Stifel Nicolaus decreased their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a buy rating on the stock in a report on Friday, February 23rd. Craig Hallum began coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a buy rating and a $15.00 price objective on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the company an outperform rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences has an average rating of Moderate Buy and a consensus price target of $11.44.

Maravai LifeSciences Price Performance

Shares of MRVI opened at $10.46 on Thursday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -10.57 and a beta of 0.03. Maravai LifeSciences has a 1-year low of $4.52 and a 1-year high of $16.62. The company’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $6.78. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 4.17% and a negative net margin of 47.81%. The firm had revenue of $74.14 million for the quarter, compared to analyst estimates of $62.99 million. On average, research analysts forecast that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Maravai LifeSciences by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,391 shares of the company’s stock worth $34,000 after acquiring an additional 1,662 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Maravai LifeSciences by 99.9% in the third quarter. Signaturefd LLC now owns 3,364 shares of the company’s stock worth $34,000 after acquiring an additional 1,681 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Maravai LifeSciences by 2.6% in 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 last quarter. QRG Capital Management Inc. lifted its holdings in shares of Maravai LifeSciences by 11.7% in the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after acquiring an additional 1,796 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Maravai LifeSciences by 1.1% in the third quarter. Swiss National Bank now owns 246,500 shares of the company’s stock worth $2,465,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors 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.