Maravai LifeSciences (NASDAQ:MRVI) Upgraded at TD Cowen

TD Cowen upgraded shares of Maravai LifeSciences (NASDAQ:MRVI) to a strong-buy rating in a report published on Monday morning,Zacks reports.

MRVI has been the subject of a number of other research reports. Wall Street Zen cut shares of Maravai LifeSciences from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Wells Fargo & Company increased their target price on Maravai LifeSciences from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a research report on Wednesday, August 26th. Finally, UBS Group raised their price target on shares of Maravai LifeSciences from $2.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Maravai LifeSciences has an average rating of “Moderate Buy” and a consensus target price of $7.38.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI opened at $7.43 on Monday. The company has a 50 day simple moving average of $7.16 and a two-hundred day simple moving average of $5.58. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -14.29 and a beta of 0.54. The company has a current ratio of 4.05, a quick ratio of 2.98 and a debt-to-equity ratio of 0.49. Maravai LifeSciences has a 12 month low of $2.55 and a 12 month high of $9.42.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Maravai LifeSciences by 0.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock worth $12,069,000 after buying an additional 39,600 shares in the last quarter. General American Investors Co. Inc. lifted its stake in shares of Maravai LifeSciences by 1,062.2% in the fourth quarter. General American Investors Co. Inc. now owns 1,585,316 shares of the company’s stock worth $5,152,000 after buying an additional 1,448,907 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Maravai LifeSciences by 64.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,418,597 shares of the company’s stock worth $4,015,000 after acquiring an additional 558,050 shares during the last quarter. Eversept Partners LP boosted its position in Maravai LifeSciences by 147.2% during the fourth quarter. Eversept Partners LP now owns 718,582 shares of the company’s stock worth $2,335,000 after acquiring an additional 427,909 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Maravai LifeSciences during the 2nd quarter valued at about $2,230,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc is a life sciences company that provides products and services used in the development and manufacture of biopharmaceuticals, vaccines, diagnostics and other advanced biological products. The company serves research, pharmaceutical, biotechnology and healthcare customers involved in nucleic acid production, biologics development and quality testing.

Maravai’s Nucleic Acid Production segment, which includes TriLink BioTechnologies, supplies specialized messenger RNA and other nucleic acid products, raw materials and related manufacturing services.