Wells Fargo & Company Forecasts Strong Price Appreciation for Maravai LifeSciences (NASDAQ:MRVI) Stock

Maravai LifeSciences (NASDAQ:MRVI) had its price objective increased by research analysts at Wells Fargo & Company from $4.50 to $5.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 23.65% from the company’s previous close.

Separately, Wall Street Zen raised Maravai LifeSciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.63.

Maravai LifeSciences Price Performance

Shares of MRVI stock traded up $0.51 during trading hours on Friday, reaching $4.45. The company’s stock had a trading volume of 3,493,374 shares, compared to its average volume of 1,570,403. The company has a quick ratio of 5.69, a current ratio of 6.60 and a debt-to-equity ratio of 0.85. Maravai LifeSciences has a fifty-two week low of $1.95 and a fifty-two week high of $4.83. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.97 and a beta of 0.62. The firm’s 50 day simple moving average is $3.33 and its 200-day simple moving average is $3.39.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Maravai LifeSciences had a negative return on equity of 22.79% and a negative net margin of 70.40%.The company had revenue of $49.87 million for the quarter, compared to the consensus estimate of $49.06 million. Sell-side analysts forecast that Maravai LifeSciences will post -0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sprott Inc. purchased a new position in Maravai LifeSciences in the third quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in shares of Maravai LifeSciences during the fourth quarter worth $34,000. Insigneo Advisory Services LLC purchased a new stake in shares of Maravai LifeSciences during the fourth quarter worth $34,000. Quantessence Capital LLC purchased a new stake in shares of Maravai LifeSciences during the third quarter worth $31,000. Finally, Stifel Financial Corp purchased a new stake in shares of Maravai LifeSciences during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.