Maravai LifeSciences (NASDAQ:MRVI) Price Target Cut to $18.00 by Analysts at Credit Suisse Group

Posted by on May 10th, 2023

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) had its price target trimmed by Credit Suisse Group from $23.00 to $18.00 in a report published on Tuesday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reduced their target price on shares of Maravai LifeSciences from $25.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday, February 23rd. Morgan Stanley reduced their target price on shares of Maravai LifeSciences from $32.00 to $29.00 and set an overweight rating on the stock in a research note on Friday, February 24th. KeyCorp reduced their price target on shares of Maravai LifeSciences from $28.00 to $24.00 and set an overweight rating on the stock in a research note on Thursday, February 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of Maravai LifeSciences from $18.00 to $16.00 and set a buy rating on the stock in a research note on Tuesday, January 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $20.20.

Maravai LifeSciences Trading Down 13.0 %

Shares of MRVI opened at $12.09 on Tuesday. Maravai LifeSciences has a twelve month low of $11.89 and a twelve month high of $35.82. The company has a market cap of $3.09 billion, a P/E ratio of 7.33 and a beta of -0.23. The company has a current ratio of 7.70, a quick ratio of 7.31 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $14.14 and its 200-day simple moving average is $14.31.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last announced its earnings results on Monday, May 8th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Maravai LifeSciences had a net margin of 24.94% and a return on equity of 57.88%. The firm had revenue of $79.03 million during the quarter, compared to analysts’ expectations of $79.72 million. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was down 67.7% compared to the same quarter last year. As a group, analysts expect that Maravai LifeSciences will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Bank of New York Mellon Corp grew its holdings in Maravai LifeSciences by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock worth $14,694,000 after acquiring an additional 6,339 shares in the last quarter. Bank of Montreal Can grew its holdings in Maravai LifeSciences by 13.6% during the 1st quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock worth $591,000 after acquiring an additional 1,986 shares in the last quarter. MetLife Investment Management LLC bought a new position in Maravai LifeSciences during the 1st quarter worth about $250,000. Dimensional Fund Advisors LP grew its holdings in Maravai LifeSciences by 534.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock worth $4,133,000 after acquiring an additional 98,698 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Maravai LifeSciences by 7.5% during the 1st quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after acquiring an additional 11,079 shares in the last quarter. 48.67% of the stock is currently owned by institutional investors.

About Maravai LifeSciences

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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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