Stock analysts at Royal Bank of Canada initiated coverage on shares of Maravai LifeSciences (NASDAQ:MRVI – Get Rating) in a report released on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Several other brokerages also recently commented on MRVI. KeyCorp lowered their target price on Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Credit Suisse Group lowered their target price on Maravai LifeSciences from $34.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Robert W. Baird lowered their target price on Maravai LifeSciences from $34.00 to $25.00 in a research note on Thursday, November 3rd. Bank of America cut Maravai LifeSciences from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $17.00 in a report on Thursday, November 3rd. Finally, Morgan Stanley reduced their price target on Maravai LifeSciences from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Maravai LifeSciences currently has an average rating of “Moderate Buy” and an average price target of $24.33.
Maravai LifeSciences Price Performance
MRVI stock traded down $0.84 during midday trading on Tuesday, reaching $12.50. The company had a trading volume of 2,123,428 shares, compared to its average volume of 1,813,620. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 6.98 and a beta of -0.30. The stock has a 50 day moving average price of $17.13 and a 200-day moving average price of $23.33. Maravai LifeSciences has a 1-year low of $12.19 and a 1-year high of $44.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.22 and a quick ratio of 6.68.
Institutional Trading of Maravai LifeSciences
Several institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC boosted its holdings in Maravai LifeSciences by 2.0% in the third quarter. Fred Alger Management LLC now owns 94,126 shares of the company’s stock valued at $2,403,000 after acquiring an additional 1,889 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new position in shares of Maravai LifeSciences during the 3rd quarter worth approximately $375,000. State Street Corp boosted its holdings in shares of Maravai LifeSciences by 0.3% during the 3rd quarter. State Street Corp now owns 1,754,976 shares of the company’s stock worth $44,805,000 after buying an additional 6,088 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Maravai LifeSciences by 13.6% during the 3rd quarter. Algert Global LLC now owns 72,154 shares of the company’s stock worth $1,842,000 after buying an additional 8,651 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of Maravai LifeSciences during the 3rd quarter worth approximately $65,350,000. 51.02% of the stock is currently owned by 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 in the United States and internationally. 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.
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