Maravai LifeSciences (NASDAQ:MRVI) Price Target Cut to $8.00 by Analysts at The Goldman Sachs Group

Posted by Defense World Staff on Aug 12th, 2023

Maravai LifeSciences (NASDAQ:MRVI – Free Report) had its price objective trimmed by The Goldman Sachs Group from $12.00 to $8.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Maravai LifeSciences from $25.00 to $23.00 in a research note on Tuesday, May 9th. Credit Suisse Group decreased their target price on shares of Maravai LifeSciences from $14.00 to $11.00 and set a neutral rating for the company in a research report on Tuesday. 58.com reaffirmed a downgrade rating on shares of Maravai LifeSciences in a report on Tuesday, May 23rd. Robert W. Baird cut their price objective on shares of Maravai LifeSciences from $18.00 to $11.00 and set an outperform rating for the company in a report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Maravai LifeSciences from $22.00 to $20.00 in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.10.

View Our Latest Research Report on MRVI

Maravai LifeSciences Price Performance

Shares of MRVI stock opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.33 and a quick ratio of 5.69. The company has a market capitalization of $2.60 billion, a P/E ratio of 18.14 and a beta of -0.26. The company’s 50-day simple moving average is $12.48 and its two-hundred day simple moving average is $13.52. Maravai LifeSciences has a one year low of $9.20 and a one year high of $27.15.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of the stock. Zions Bancorporation N.A. acquired a new position in shares of Maravai LifeSciences in the first quarter worth about $28,000. Signaturefd LLC boosted its stake in shares of Maravai LifeSciences by 63.2% during the 4th quarter. Signaturefd LLC now owns 1,962 shares of the company’s stock valued at $28,000 after buying an additional 760 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Maravai LifeSciences during the first quarter worth approximately $31,000. Gladius Capital Management LP bought a new stake in shares of Maravai LifeSciences in the fourth quarter worth $38,000. Finally, Lazard Asset Management LLC raised its holdings in Maravai LifeSciences by 8,207.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,323 shares of the company’s stock valued at $47,000 after acquiring an additional 3,283 shares in the last quarter. 50.62% of the stock is currently owned by hedge funds and other institutional investors.

Maravai LifeSciences Company Profile

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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.