Maravai LifeSciences (NASDAQ:MRVI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Wells Fargo & Company boosted their price objective on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. TD Cowen started coverage on Maravai LifeSciences in a research note on Monday, October 5th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, UBS Group upped their price objective on Maravai LifeSciences from $2.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.38.

Maravai LifeSciences Trading Up 6.6%

Shares of NASDAQ:MRVI opened at $8.02 on Friday. The stock’s 50-day simple moving average is $7.37 and its two-hundred day simple moving average is $5.35. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -18.65 and a beta of 0.61. Maravai LifeSciences has a 52-week low of $2.80 and a 52-week high of $9.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.98 and a current ratio of 4.05.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Maravai LifeSciences had a negative net margin of 30.83% and a negative return on equity of 12.23%. The firm had revenue of $45.85 million during the quarter, compared to analyst estimates of $43.56 million. Analysts expect that Maravai LifeSciences will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Maravai LifeSciences by 64.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock valued at $4,015,000 after purchasing an additional 558,050 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Maravai LifeSciences in the second quarter worth $2,230,000. Brummer Multi Strategy AB increased its stake in shares of Maravai LifeSciences by 66.0% in the first quarter. Brummer Multi Strategy AB now owns 759,743 shares of the company’s stock worth $2,150,000 after purchasing an additional 302,036 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Maravai LifeSciences in the second quarter worth $1,038,000. Finally, General American Investors Co. Inc. raised its position in shares of Maravai LifeSciences by 8.3% during the 1st quarter. General American Investors Co. Inc. now owns 1,716,193 shares of the company’s stock valued at $4,857,000 after purchasing an additional 130,877 shares during the period. 50.25% of the stock is owned by hedge funds and other institutional investors.

About Maravai LifeSciences

Maravai LifeSciences provides products and services used by biotechnology and pharmaceutical companies in the development and production of therapeutics, vaccines, and other biologic products. Its offerings include specialized nucleic acid materials and analytical testing services that support research, manufacturing, and quality control.

Through TriLink BioTechnologies, the company supplies modified nucleotides, custom RNA and DNA, and related materials used in applications such as messenger RNA research and production.