Maravai LifeSciences (NASDAQ:MRVI) Given New $8.00 Price Target at The Goldman Sachs Group

Maravai LifeSciences (NASDAQ:MRVI) had its price target raised by The Goldman Sachs Group from $7.00 to $8.00 in a research report report published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research analysts have also commented on the company. UBS Group lifted their price target on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a research report on Thursday. Robert W. Baird raised their price objective on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. Finally, Craig Hallum initiated coverage on shares of Maravai LifeSciences in a research note on Wednesday, April 10th. They issued a buy rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Maravai LifeSciences presently has a consensus rating of Moderate Buy and a consensus target price of $10.88.

Maravai LifeSciences Price Performance

MRVI stock traded up $0.06 during trading on Thursday, reaching $8.54. The company’s stock had a trading volume of 2,097,507 shares, compared to its average volume of 2,341,972. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $11.56. The company has a quick ratio of 10.47, a current ratio of 11.32 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.15 billion, a P/E ratio of -8.63 and a beta of 0.02. The company’s fifty day moving average is $8.15 and its 200-day moving average is $8.00.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.81% and a negative return on equity of 4.28%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. On average, research analysts expect that Maravai LifeSciences will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of Maravai LifeSciences stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the completion of the sale, the director now owns 20,150,005 shares of the company’s stock, valued at $197,671,549.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in Maravai LifeSciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after buying an additional 668,552 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Maravai LifeSciences by 15.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after purchasing an additional 598,530 shares during the last quarter. Headlands Technologies LLC grew its holdings in Maravai LifeSciences by 205.9% in the second quarter. Headlands Technologies LLC now owns 14,935 shares of the company’s stock worth $107,000 after purchasing an additional 10,053 shares during the last quarter. Monaco Asset Management SAM grew its holdings in Maravai LifeSciences by 26.5% in the second quarter. Monaco Asset Management SAM now owns 200,000 shares of the company’s stock worth $1,432,000 after purchasing an additional 41,849 shares during the last quarter. Finally, Choreo LLC purchased a new position in Maravai LifeSciences in the second quarter worth $467,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Company Profile

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 worldwide. 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.