Craig Hallum Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $10.00

Maravai LifeSciences (NASDAQ:MRVI) had its price target decreased by Craig Hallum from $12.00 to $10.00 in a research note released on Tuesday, MarketBeat reports. Craig Hallum currently has a buy rating on the stock.

A number of other brokerages also recently commented on MRVI. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Stifel Nicolaus set a $5.00 target price on shares of Maravai LifeSciences in a research note on Friday, March 21st. Robert W. Baird cut their target price on shares of Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their price target on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Finally, Bank of America lowered their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.64.

Maravai LifeSciences Stock Down 1.0%

Shares of NASDAQ MRVI opened at $1.96 on Tuesday. The company’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $4.09. Maravai LifeSciences has a 52-week low of $1.67 and a 52-week high of $11.56. The firm has a market cap of $498.50 million, a price-to-earnings ratio of -1.20 and a beta of 0.19. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $46.85 million for the quarter, compared to analyst estimates of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The business’s revenue was down 26.9% compared to the same quarter last year. Equities analysts predict that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Large investors have recently bought and sold shares of the business. Performa Ltd US LLC lifted its stake in shares of Maravai LifeSciences by 614.3% in the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 4,300 shares during the period. EntryPoint Capital LLC purchased a new position in Maravai LifeSciences during the 1st quarter valued at about $32,000. Teacher Retirement System of Texas purchased a new position in Maravai LifeSciences during the 1st quarter valued at about $37,000. Aigen Investment Management LP purchased a new stake in shares of Maravai LifeSciences during the first quarter worth about $37,000. Finally, FNY Investment Advisers LLC grew its holdings in shares of Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.