58.com Reaffirms “Downgrade” Rating for Maravai LifeSciences (NASDAQ:MRVI)

58.com restated their downgrade rating on shares of Maravai LifeSciences (NASDAQ:MRVI – Get Rating) in a research report sent to investors on Tuesday, Benzinga reports.

MRVI has been the topic of a number of other reports. Credit Suisse Group cut Maravai LifeSciences from an outperform rating to a neutral rating and reduced their price objective for the company from $18.00 to $14.00 in a research note on Tuesday. Royal Bank of Canada lowered their price objective on shares of Maravai LifeSciences from $22.00 to $20.00 in a report on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Maravai LifeSciences from $25.00 to $23.00 in a report on Tuesday, May 9th. Morgan Stanley decreased their price objective on shares of Maravai LifeSciences from $32.00 to $29.00 and set an overweight rating for the company in a report on Friday, February 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Maravai LifeSciences from $18.00 to $17.00 in a report on Tuesday, May 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $19.80.

Maravai LifeSciences Stock Down 1.3 %

NASDAQ:MRVI opened at $13.22 on Tuesday. The company has a current ratio of 6.13, a quick ratio of 5.69 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.50 and a beta of -0.23. The stock has a 50-day moving average price of $13.69 and a two-hundred day moving average price of $14.12. Maravai LifeSciences has a 1 year low of $11.89 and a 1 year high of $35.22.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $79.03 million for the quarter, compared to analyst estimates of $79.72 million. Maravai LifeSciences had a return on equity of 38.41% and a net margin of 21.36%. The company’s quarterly revenue was down 67.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. As a group, equities analysts expect that Maravai LifeSciences will post 0.3 earnings per share for the current year.

Institutional Trading of Maravai LifeSciences

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Maravai LifeSciences by 141.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,178,115 shares of the company’s stock worth $88,409,000 after buying an additional 3,618,369 shares in the last quarter. Mackenzie Financial Corp lifted its position in Maravai LifeSciences by 4,061.8% during the fourth quarter. Mackenzie Financial Corp now owns 2,121,161 shares of the company’s stock valued at $30,354,000 after buying an additional 2,070,193 shares in the last quarter. Norges Bank acquired a new position in Maravai LifeSciences during the fourth quarter valued at approximately $28,010,000. Renaissance Technologies LLC lifted its position in shares of Maravai LifeSciences by 118.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,326,948 shares of the company’s stock worth $47,609,000 after purchasing an additional 1,804,248 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Maravai LifeSciences by 285.8% during the third quarter. Marshall Wace LLP now owns 2,077,036 shares of the company’s stock worth $53,030,000 after purchasing an additional 1,538,680 shares in the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.

Maravai LifeSciences Company Profile

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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 in the United States and internationally. 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.