Maravai LifeSciences (NASDAQ:MRVI) Stock Bumped Up to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on MRVI. Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group boosted their price objective on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. TD Cowen initiated coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Price Performance

Shares of MRVI stock opened at $7.52 on Friday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -17.49 and a beta of 0.61. The business’s fifty day moving average is $7.37 and its 200 day moving average is $5.33. Maravai LifeSciences has a twelve month low of $2.55 and a twelve month high of $9.42. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Maravai LifeSciences had a negative return on equity of 12.23% and a negative net margin of 30.83%. The business had revenue of $45.85 million during the quarter, compared to analyst estimates of $43.56 million. Research analysts expect that Maravai LifeSciences will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in shares of Maravai LifeSciences by 4.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 166,243 shares of the company’s stock worth $1,273,000 after buying an additional 7,699 shares during the last quarter. Torrey Growth & Income Advisors bought a new stake in shares of Maravai LifeSciences in the third quarter worth $283,000. Ethic Inc. grew its holdings in shares of Maravai LifeSciences by 57.1% in the third quarter. Ethic Inc. now owns 16,654 shares of the company’s stock worth $128,000 after acquiring an additional 6,050 shares during the period. Pictet Asset Management Holding SA purchased a new stake in Maravai LifeSciences during the third quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maravai LifeSciences during the third quarter valued at $58,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development, manufacture and quality testing of biopharmaceuticals, vaccines and diagnostic products. The company serves pharmaceutical, biotechnology, academic and other research organizations involved in nucleic acid and biologics development.

Through its TriLink BioTechnologies business, Maravai supplies specialized nucleic acid products and services, including modified nucleotides, messenger RNA-related materials, enzymes and other components used in research and biomanufacturing.