Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 519,890 shares of the company’s stock after acquiring an additional 3,725 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.21% of Maravai LifeSciences worth $4,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. 12 West Capital Management LP boosted its holdings in Maravai LifeSciences by 13.8% during the first quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after buying an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Maravai LifeSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after buying an additional 34,232 shares in the last quarter. Millennium Management LLC boosted its holdings in Maravai LifeSciences by 12.3% during the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after buying an additional 598,530 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley downgraded shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. The Goldman Sachs Group decreased their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. UBS Group raised their price target on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Maravai LifeSciences Trading Down 2.4 %

Shares of MRVI stock opened at $7.84 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The stock has a market capitalization of $1.98 billion, a P/E ratio of -7.92 and a beta of 0.02. The company has a 50 day moving average price of $8.21 and a 200 day moving average price of $8.52. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $11.56.

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