Maravai LifeSciences (NASDAQ:MRVI) Stock Rating Upgraded by UBS Group

Maravai LifeSciences (NASDAQ:MRVI) was upgraded by investment analysts at UBS Group to a “hold” rating in a research report issued on Wednesday, Zacks reports.

A number of other analysts also recently commented on MRVI. Wall Street Zen downgraded Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company lifted their price target on Maravai LifeSciences from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Maravai LifeSciences has a consensus rating of “Hold” and an average target price of $6.83.

Maravai LifeSciences Price Performance

MRVI stock opened at $6.53 on Wednesday. The firm has a 50 day moving average of $6.86 and a 200-day moving average of $5.05. Maravai LifeSciences has a 12-month low of $2.55 and a 12-month high of $9.42. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -12.56 and a beta of 0.60.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $51.44 million for 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, equities analysts expect that Maravai LifeSciences will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of Maravai LifeSciences by 2.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company’s stock valued at $20,595,000 after acquiring an additional 178,445 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Maravai LifeSciences by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company’s stock worth $20,148,000 after buying an additional 104,355 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Maravai LifeSciences by 0.9% in the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock valued at $12,069,000 after buying an additional 39,600 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Maravai LifeSciences by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,848,105 shares of the company’s stock valued at $9,259,000 after buying an additional 34,447 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Maravai LifeSciences by 1.1% during the fourth quarter. State Street Corp now owns 2,414,249 shares of the company’s stock valued at $7,846,000 after buying an additional 27,219 shares during the period. 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.