Maravai LifeSciences (NASDAQ:MRVI) Upgraded at KeyCorp

KeyCorp upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a sector weight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $11.00 price target on the stock.

MRVI has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. UBS Group boosted their target price on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Wells Fargo & Company upped their target price on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, TD Cowen assumed coverage on shares of Maravai LifeSciences in a research note on Monday, October 5th. They set a “buy” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded down $0.14 on Thursday, hitting $7.54. The company’s stock had a trading volume of 1,992,231 shares, compared to its average volume of 2,217,364. Maravai LifeSciences has a 12-month low of $2.80 and a 12-month high of $9.42. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -17.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.66 and a quick ratio of 2.98. The stock has a 50 day moving average of $7.40 and a 200-day moving average of $5.43.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Maravai LifeSciences had a negative net margin of 30.83% and a negative return on equity of 12.44%. The business had revenue of $45.85 million during the quarter, compared to analysts’ expectations of $43.56 million. As a group, research analysts predict that Maravai LifeSciences will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Maravai LifeSciences by 0.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after purchasing an additional 39,600 shares during the period. Marshall Wace LLP increased its holdings in shares of Maravai LifeSciences by 38.2% during the 3rd quarter. Marshall Wace LLP now owns 2,034,070 shares of the company’s stock worth $15,581,000 after buying an additional 562,593 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Maravai LifeSciences by 64.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after buying an additional 558,050 shares during the last quarter. Brummer Multi Strategy AB increased its holdings in shares of Maravai LifeSciences by 66.0% during the 1st quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after buying an additional 302,036 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Maravai LifeSciences in the 3rd quarter worth $5,259,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

About Maravai LifeSciences

Maravai LifeSciences provides products and services used by biotechnology and pharmaceutical companies in the development and production of therapeutics, vaccines, and other biologic products. Its offerings include specialized nucleic acid materials and analytical testing services that support research, manufacturing, and quality control. Through TriLink BioTechnologies, the company supplies modified nucleotides, custom RNA and DNA, and related materials used in applications such as messenger RNA research and production.