Maravai LifeSciences (NASDAQ:MRVI) PT Lowered to $7.00 at The Goldman Sachs Group

Maravai LifeSciences (NASDAQ:MRVIFree Report) had its price target decreased by The Goldman Sachs Group from $8.00 to $7.00 in a report published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other analysts also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an overweight rating and a $10.00 price target on the stock. UBS Group upped their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an outperform rating and set a $15.00 price target on shares of Maravai LifeSciences in a research report on Friday, August 16th. Finally, Morgan Stanley lowered Maravai LifeSciences from an overweight rating to an equal weight rating and cut their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $10.67.

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Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $8.01 on Tuesday. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $11.56. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.02 billion and a PE ratio of -8.09. The stock has a 50 day simple moving average of $8.60 and a 200-day simple moving average of $8.58.

Maravai LifeSciences (NASDAQ:MRVIGet Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business had revenue of $73.40 million during the quarter, compared to the consensus estimate of $71.64 million. During the same period in the previous year, the company posted ($0.06) EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Maravai LifeSciences will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 12 West Capital Management LP raised its position in shares of Maravai LifeSciences by 13.8% during the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after purchasing an additional 1,600,000 shares during the period. Vanguard Group Inc. lifted its stake in Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after buying an additional 34,232 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares during the period. Mackenzie Financial Corp increased its position in shares of Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares in the last quarter. Finally, Braidwell LP raised its holdings in shares of Maravai LifeSciences by 26.8% during the fourth quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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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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