The Goldman Sachs Group Increases Maravai LifeSciences (NASDAQ:MRVI) Price Target to $8.00

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

A number of other equities analysts have also commented on MRVI. Robert W. Baird raised their price target on shares of Maravai LifeSciences from $8.00 to $10.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Craig Hallum started coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They issued a buy rating and a $15.00 target price for the company. Finally, UBS Group upped their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a neutral rating in a research report on Thursday. Two investment 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, the company has a consensus rating of Moderate Buy and a consensus target price of $10.88.

Maravai LifeSciences Stock Up 0.6 %

MRVI stock traded up $0.05 during trading hours on Thursday, reaching $8.59. 315,601 shares of the stock were exchanged, compared to its average volume of 2,328,814. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -8.63 and a beta of 0.02. The firm’s 50-day moving average is $8.15 and its 200-day moving average is $8.02. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 11.32 and a quick ratio of 10.47.

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

Insider Buying and Selling

In other news, Director Gtcr Investment Xi Llc sold 9,940,974 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $9.81, for a total transaction of $97,520,954.94. Following the sale, the director now directly owns 20,150,005 shares in the company, valued at $197,671,549.05. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently added to or reduced their stakes in MRVI. QRG Capital Management Inc. boosted its stake in shares of Maravai LifeSciences by 11.7% in the 1st quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after purchasing an additional 1,796 shares in the last quarter. GAMMA Investing LLC boosted its position in Maravai LifeSciences by 310.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,711 shares in the last quarter. M&T Bank Corp raised its position in shares of Maravai LifeSciences by 17.3% in the 4th quarter. M&T Bank Corp now owns 20,107 shares of the company’s stock worth $131,000 after acquiring an additional 2,972 shares in the last quarter. Performa Ltd US LLC grew its stake in Maravai LifeSciences by 112.4% in the fourth quarter. Performa Ltd US LLC now owns 6,000 shares of the company’s stock worth $39,000 after purchasing an additional 3,175 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Maravai LifeSciences by 15.4% during the 4th quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $167,000 after buying an additional 3,400 shares in the last quarter. 50.25% of the stock is currently owned by 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.