Maravai LifeSciences (NASDAQ:MRVI) Given New $5.00 Price Target at Royal Bank Of Canada

Maravai LifeSciences (NASDAQ:MRVI) had its price target lowered by equities researchers at Royal Bank Of Canada from $7.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 81.82% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Craig Hallum decreased their price objective on Maravai LifeSciences from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Robert W. Baird decreased their price objective on Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Maravai LifeSciences currently has a consensus rating of “Hold” and an average price target of $5.75.

Maravai LifeSciences Trading Up 2.2%

Shares of NASDAQ MRVI opened at $2.75 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.16 and a quick ratio of 5.17. The stock has a market capitalization of $700.32 million, a P/E ratio of -2.02 and a beta of 0.28. Maravai LifeSciences has a 1-year low of $1.66 and a 1-year high of $9.95. The business has a fifty day moving average price of $2.41 and a 200 day moving average price of $2.64.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $46.85 million for the quarter, compared to analysts’ expectations of $44.01 million. Maravai LifeSciences had a negative return on equity of 17.60% and a negative net margin of 90.03%. The business’s quarterly revenue was down 26.9% on a year-over-year basis. Equities research analysts expect that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Callan Family Office LLC purchased a new position in shares of Maravai LifeSciences in the second quarter worth about $25,000. Ethic Inc. purchased a new position in shares of Maravai LifeSciences in the second quarter worth about $26,000. McAdam LLC purchased a new position in shares of Maravai LifeSciences in the first quarter worth about $31,000. EntryPoint Capital LLC purchased a new position in shares of Maravai LifeSciences in the first quarter worth about $32,000. Finally, Prudential Financial Inc. purchased a new position in shares of Maravai LifeSciences in the second quarter worth about $36,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

About Maravai LifeSciences

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.