Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Receives $5.50 Consensus Target Price from Brokerages

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.50.

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a report on Friday, May 8th. Wells Fargo & Company upped their price objective on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total value of $126,500.00. Following the transaction, the general counsel owned 360,767 shares in the company, valued at $1,825,481.02. This represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Maravai LifeSciences by 49.0% during the first quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares in the last quarter. Barclays PLC raised its stake in shares of Maravai LifeSciences by 3.0% in the fourth quarter. Barclays PLC now owns 172,281 shares of the company’s stock worth $560,000 after buying an additional 5,057 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock valued at $112,000 after buying an additional 5,160 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Maravai LifeSciences by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after acquiring an additional 8,955 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Maravai LifeSciences by 121.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,021 shares of the company’s stock worth $43,000 after acquiring an additional 9,870 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $6.69 on Thursday. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $5.61 and a 200-day moving average price of $4.22. Maravai LifeSciences has a 52 week low of $1.99 and a 52 week high of $7.44. The firm has a market capitalization of $1.73 billion, a PE ratio of -9.42 and a beta of 0.65.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. The company had revenue of $65.84 million for the quarter, compared to the consensus estimate of $53.00 million. As a group, equities research analysts expect that Maravai LifeSciences will post -0.2 earnings per share for the current year.

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.