Mackenzie Financial Corp Reduces Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

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

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Maravai LifeSciences by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 33,046 shares of the company's stock valued at $180,000 after acquiring an additional 2,239 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Maravai LifeSciences during the fourth quarter valued at approximately $136,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Maravai LifeSciences by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,076 shares of the company's stock valued at $164,000 after acquiring an additional 2,851 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Maravai LifeSciences by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,990,414 shares of the company's stock valued at $16,298,000 after acquiring an additional 9,769 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Maravai LifeSciences by 10.7% during the fourth quarter. E. Ohman J or Asset Management AB now owns 257,751 shares of the company's stock valued at $1,405,000 after acquiring an additional 25,000 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Down 5.3%

Maravai LifeSciences stock traded down $0.13 during trading on Friday, hitting $2.25. 391,183 shares of the company were exchanged, compared to its average volume of 2,779,526. The business's 50 day moving average is $2.06 and its 200 day moving average is $3.75. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.66 and a 52 week high of $10.03. The company has a market capitalization of $571.71 million, a P/E ratio of -1.37 and a beta of 0.19. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $46.85 million during the quarter, compared to analysts' expectations of $44.01 million. Maravai LifeSciences's quarterly revenue was down 26.9% compared to the same quarter last year. Analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

MRVI has been the subject of several recent research reports. Bank of America decreased their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 3rd. UBS Group decreased their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating for the company in a report on Friday, March 21st. Morgan Stanley decreased their price objective on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Craig Hallum decreased their price objective on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Baird R W downgraded Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Maravai LifeSciences has a consensus rating of "Hold" and an average target price of $6.64.

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.