Mackenzie Financial Corp Has $33.70 Million Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Mackenzie Financial Corp lowered its stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,182,716 shares of the company's stock after selling 180,696 shares during the period. Mackenzie Financial Corp owned approximately 2.45% of Maravai LifeSciences worth $33,696,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its holdings in Maravai LifeSciences by 145.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company's stock worth $29,045,000 after purchasing an additional 3,161,072 shares in the last quarter. Marshall Wace LLP boosted its holdings in Maravai LifeSciences by 17,912.9% during the fourth quarter. Marshall Wace LLP now owns 2,778,497 shares of the company's stock valued at $15,143,000 after acquiring an additional 2,763,072 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Maravai LifeSciences by 29.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company's stock valued at $25,420,000 after acquiring an additional 1,062,485 shares during the period. CenterBook Partners LP bought a new stake in Maravai LifeSciences during the fourth quarter valued at about $4,425,000. Finally, Pier Capital LLC boosted its holdings in Maravai LifeSciences by 137.0% during the fourth quarter. Pier Capital LLC now owns 1,127,773 shares of the company's stock valued at $6,146,000 after acquiring an additional 651,921 shares during the period. Institutional investors own 50.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MRVI. Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Baird R W lowered shares of Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 25th. Stifel Nicolaus set a $5.00 price objective on shares of Maravai LifeSciences in a research report on Friday, March 21st. Finally, Craig Hallum cut their price objective on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.64.

Maravai LifeSciences Trading Down 0.9%

MRVI traded down $0.02 during mid-day trading on Wednesday, hitting $2.21. The stock had a trading volume of 700,452 shares, compared to its average volume of 2,351,583. The stock's fifty day simple moving average is $2.06 and its 200-day simple moving average is $3.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm has a market capitalization of $562.80 million, a price-to-earnings ratio of -1.35 and a beta of 0.19. Maravai LifeSciences Holdings, Inc. has a 1-year low of $1.67 and a 1-year high of $10.03.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. Maravai LifeSciences's revenue was down 26.9% on a year-over-year basis. As a group, research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Maravai LifeSciences Profile

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.