Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stake Increased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,169,176 shares of the company’s stock after acquiring an additional 238,335 shares during the period. Mackenzie Financial Corp’s holdings in Maravai LifeSciences were worth $33,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MRVI. Thrivent Financial for Lutherans increased its position in Maravai LifeSciences by 32.6% during the first quarter. Thrivent Financial for Lutherans now owns 8,189,798 shares of the company’s stock worth $114,739,000 after buying an additional 2,011,683 shares during the last quarter. 12 West Capital Management LP increased its position in Maravai LifeSciences by 92.2% during the third quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company’s stock worth $64,631,000 after buying an additional 3,101,275 shares during the last quarter. BlackRock Inc. increased its position in Maravai LifeSciences by 2.2% during the first quarter. BlackRock Inc. now owns 5,899,915 shares of the company’s stock worth $82,658,000 after buying an additional 126,007 shares during the last quarter. Braidwell LP increased its position in Maravai LifeSciences by 120.3% during the third quarter. Braidwell LP now owns 3,974,857 shares of the company’s stock worth $39,749,000 after buying an additional 2,170,157 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Maravai LifeSciences by 37.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,230 shares of the company’s stock worth $19,357,000 after buying an additional 810,957 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada increased their target price on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus lowered their price target on Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, Craig Hallum initiated coverage on Maravai LifeSciences in a research report on Wednesday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.56.

Maravai LifeSciences Price Performance

MRVI stock opened at $7.73 on Thursday. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.52 and a twelve month high of $16.62. The business’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $6.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 8.00 and a quick ratio of 7.41.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Maravai LifeSciences had a negative return on equity of 1.31% and a negative net margin of 41.19%. The business had revenue of $74.14 million for the quarter, compared to the consensus estimate of $62.99 million. Sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Maravai LifeSciences Company 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.