Analysts Set Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) PT at $5.50

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.50.

Several analysts recently commented on MRVI shares. UBS Group restated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 29th. Finally, Wells Fargo & Company lifted their target price on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th.

Maravai LifeSciences Price Performance

NASDAQ:MRVI opened at $6.04 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -8.51 and a beta of 0.65. Maravai LifeSciences has a 1-year low of $1.99 and a 1-year high of $6.55. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The business’s fifty day moving average price is $4.79 and its 200 day moving average price is $3.86.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.06. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%.The firm had revenue of $65.84 million during the quarter, compared to the consensus estimate of $53.00 million. On average, sell-side analysts forecast that Maravai LifeSciences will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRVI. Royal Bank of Canada lifted its holdings in shares of Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after buying an additional 3,209 shares during the last quarter. Barclays PLC increased its holdings in Maravai LifeSciences by 3.0% in the fourth quarter. Barclays PLC now owns 172,281 shares of the company’s stock worth $560,000 after buying an additional 5,057 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Maravai LifeSciences by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock valued at $112,000 after acquiring an additional 5,160 shares in the last quarter. Epacria Capital Partners LLC raised its position in Maravai LifeSciences by 6.8% during the third quarter. Epacria Capital Partners LLC now owns 100,078 shares of the company’s stock valued at $287,000 after acquiring an additional 6,384 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Maravai LifeSciences by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after acquiring an additional 8,955 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

About Maravai LifeSciences

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.