Maravai LifeSciences (NASDAQ:MRVI) Stock Bumped Up to Overweight by KeyCorp

Maravai LifeSciences (NASDAQ:MRVI) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Thursday, FinViz reports. The firm currently has a $11.00 price objective on the stock. KeyCorp‘s price target points to a potential upside of 42.86% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. UBS Group boosted their target price on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Wednesday, August 26th. TD Cowen began coverage on shares of Maravai LifeSciences in a report on Monday, October 5th. They issued a “buy” rating and a $9.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.10.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $7.70 on Thursday. The stock’s 50-day moving average is $7.39 and its 200-day moving average is $5.39. Maravai LifeSciences has a 1-year low of $2.80 and a 1-year high of $9.42. The company has a current ratio of 4.66, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.00 billion, a P/E ratio of -17.91 and a beta of 0.61.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $45.85 million during the quarter, compared to analyst estimates of $43.56 million. Maravai LifeSciences had a negative return on equity of 12.44% and a negative net margin of 30.83%. Equities research analysts anticipate that Maravai LifeSciences will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Maravai LifeSciences by 0.9% in the 1st 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. Dimensional Fund Advisors LP raised its holdings in shares of Maravai LifeSciences by 64.8% in 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 during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Maravai LifeSciences in the second quarter valued at about $2,230,000. Brummer Multi Strategy AB raised its holdings 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 valued at $2,150,000 after purchasing an additional 302,036 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Maravai LifeSciences by 4.9% during the third quarter. Russell Investments Group Ltd. now owns 166,243 shares of the company’s stock valued at $1,273,000 after purchasing an additional 7,699 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.