TD Cowen Upgrades Maravai LifeSciences (NASDAQ:MRVI) to “Strong-Buy”

Maravai LifeSciences (NASDAQ:MRVI) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a report issued on Monday, Zacks reports.

MRVI has been the subject of several other research reports. Wall Street Zen downgraded shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. UBS Group raised 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. Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Stock Down 7.9%

Shares of Maravai LifeSciences stock opened at $7.85 on Monday. The business’s fifty day moving average price is $7.14 and its two-hundred day moving average price is $5.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 2.98. The company has a market capitalization of $2.04 billion, a P/E ratio of -15.10 and a beta of 0.54. Maravai LifeSciences has a 1-year low of $2.55 and a 1-year high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. As a group, research analysts forecast that Maravai LifeSciences will post -0.2 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Several institutional investors have recently modified their holdings of MRVI. General American Investors Co. Inc. lifted its stake in Maravai LifeSciences by 1,062.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock valued at $5,152,000 after purchasing an additional 1,448,907 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Maravai LifeSciences by 64.8% in the first 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. Eversept Partners LP grew its position in Maravai LifeSciences by 147.2% in the fourth quarter. Eversept Partners LP now owns 718,582 shares of the company’s stock worth $2,335,000 after buying an additional 427,909 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Maravai LifeSciences in the second quarter valued at $2,230,000. Finally, Capricorn Fund Managers Ltd bought a new position in shares of Maravai LifeSciences in the first quarter valued at $961,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

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

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.