Robert W. Baird Cuts Maravai LifeSciences (NASDAQ:MRVI) Price Target to $2.00

Maravai LifeSciences (NASDAQ:MRVI) had its target price trimmed by Robert W. Baird from $3.00 to $2.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on MRVI. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. UBS Group dropped their price target on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a research note on Friday, March 21st. Finally, Bank of America dropped their price target on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.64.

Maravai LifeSciences Trading Down 1.0%

NASDAQ:MRVI opened at $1.96 on Tuesday. Maravai LifeSciences has a twelve month low of $1.67 and a twelve month high of $11.56. The company has a market cap of $498.50 million, a P/E ratio of -1.20 and a beta of 0.19. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $4.09.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The company had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. The company’s quarterly revenue was down 26.9% on a year-over-year basis. As a group, analysts expect that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Performa Ltd US LLC increased its position in Maravai LifeSciences by 614.3% during the 4th quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the period. EntryPoint Capital LLC bought a new position in Maravai LifeSciences during the 1st quarter worth $32,000. Teacher Retirement System of Texas bought a new position in Maravai LifeSciences during the 1st quarter worth $37,000. Aigen Investment Management LP bought a new position in Maravai LifeSciences during the 1st quarter worth $37,000. Finally, FNY Investment Advisers LLC increased its position in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares during the period. Institutional investors own 50.25% of the company’s stock.

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 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.