Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.38.

A number of equities research analysts recently issued reports on MRVI shares. TD Cowen initiated coverage on Maravai LifeSciences in a research note on Monday, October 5th. They issued a “buy” rating and a $9.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wells Fargo & Company boosted 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. UBS Group increased their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th.

Maravai LifeSciences Stock Up 3.6%

Shares of NASDAQ MRVI opened at $7.45 on Friday. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.93 billion, a PE ratio of -14.33 and a beta of 0.61. The company’s fifty day simple moving average is $7.45 and its 200 day simple moving average is $5.27. Maravai LifeSciences has a 12-month low of $2.55 and a 12-month high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Maravai LifeSciences had a negative net margin of 37.07% and a negative return on equity of 15.70%. The business had revenue of $51.44 million during the quarter, compared to analyst estimates of $48.67 million. As a group, sell-side analysts forecast that Maravai LifeSciences will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ethic Inc. raised its position in Maravai LifeSciences by 57.1% during the third quarter. Ethic Inc. now owns 16,654 shares of the company’s stock valued at $128,000 after purchasing an additional 6,050 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Maravai LifeSciences in the 3rd quarter worth about $78,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maravai LifeSciences in the 3rd quarter worth about $58,000. China Universal Asset Management Co. Ltd. increased its position in shares of Maravai LifeSciences by 15.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 27,185 shares of the company’s stock valued at $208,000 after purchasing an additional 3,709 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Maravai LifeSciences during the 3rd quarter valued at about $47,000. Institutional investors 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, 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.