Craig-Hallum lowered the firm’s price target on Maravai Lifesciences (MRVI) to $5 from $10 and keeps a Buy rating on the shares. The company announced a new plan to turn things around. The company plans to cut $50M in annual spending through headcount reductions and spending cuts across all departments. With changes occurring gradually over the next 12 months, management plans to decrease the expense run rate through FY26, the firm notes.
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