Maravai LifeSciences (NASDAQ:MRVI) Upgraded at UBS Group

UBS Group upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) to a hold rating in a report published on Wednesday,Zacks reports.

Several other brokerages have also issued reports on MRVI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Wednesday, August 26th. Wells Fargo & Company raised their target price 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. Finally, Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.83.

Maravai LifeSciences Stock Performance

NASDAQ:MRVI opened at $6.53 on Wednesday. The stock’s 50-day simple moving average is $6.86 and its 200 day simple moving average is $5.05. The firm has a market capitalization of $1.70 billion, a PE ratio of -12.56 and a beta of 0.60. The company has a quick ratio of 2.98, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. Maravai LifeSciences has a twelve month low of $2.55 and a twelve month high of $9.42.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $48.67 million. Maravai LifeSciences had a negative return on equity of 15.70% and a negative net margin of 37.07%. On average, analysts anticipate that Maravai LifeSciences will post -0.2 EPS for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Maravai LifeSciences by 61.5% in the second quarter. California State Teachers Retirement System now owns 9,553 shares of the company’s stock valued at $60,000 after buying an additional 3,639 shares during the period. Royal Bank of Canada boosted its position in Maravai LifeSciences by 49.0% during the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock worth $27,000 after buying an additional 3,209 shares during the period. Virtu Financial LLC acquired a new stake in Maravai LifeSciences during the 4th quarter worth approximately $34,000. Insigneo Advisory Services LLC bought a new stake in Maravai LifeSciences during the 4th quarter worth approximately $34,000. Finally, Quantessence Capital LLC acquired a new position in Maravai LifeSciences in the 3rd quarter valued at approximately $31,000. 50.25% of the stock is currently owned by institutional investors.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.