Mackenzie Financial Corp Boosts Stock Position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Mackenzie Financial Corp increased its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,860,641 shares of the company’s stock after buying an additional 844,325 shares during the period. Mackenzie Financial Corp’s holdings in Maravai LifeSciences were worth $41,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake in shares of Maravai LifeSciences by 11.7% during the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock worth $149,000 after purchasing an additional 1,796 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after buying an additional 2,711 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Maravai LifeSciences by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock worth $639,000 after buying an additional 3,575 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Maravai LifeSciences during the second quarter valued at approximately $32,000. Finally, Headlands Technologies LLC purchased a new position in shares of Maravai LifeSciences in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MRVI. Wells Fargo & Company started coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research report on Friday, August 16th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group increased their price objective on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, UBS Group boosted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.78.

Maravai LifeSciences Stock Performance

Shares of Maravai LifeSciences stock opened at $8.42 on Friday. The business’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $8.60. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.12 billion, a PE ratio of -8.51 and a beta of 0.01. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.52 and a 52 week high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The company had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.64 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Maravai LifeSciences’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.17 earnings per share for the current 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.