Geode Capital Management LLC Increases Stock Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Geode Capital Management LLC increased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 6.3% in the third quarter, HoldingsChannel.com reports. The fund owned 2,752,077 shares of the company’s stock after acquiring an additional 162,601 shares during the period. Geode Capital Management LLC’s holdings in Maravai LifeSciences were worth $22,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Maravai LifeSciences in the second quarter worth $32,000. Venturi Wealth Management LLC purchased a new position in Maravai LifeSciences during the third quarter valued at $47,000. Custom Index Systems LLC purchased a new position in Maravai LifeSciences during the third quarter valued at $97,000. Y Intercept Hong Kong Ltd purchased a new position in Maravai LifeSciences during the third quarter valued at $105,000. Finally, Headlands Technologies LLC lifted its position in Maravai LifeSciences by 205.9% during the second quarter. Headlands Technologies LLC now owns 14,935 shares of the company’s stock valued at $107,000 after buying an additional 10,053 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MRVI. Guggenheim started coverage on Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating for the company. Royal Bank of Canada reduced their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird reduced their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.28.

Maravai LifeSciences Price Performance

NASDAQ MRVI opened at $5.50 on Friday. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $7.52. The firm has a market capitalization of $1.39 billion, a P/E ratio of -3.35 and a beta of -0.07. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences Holdings, Inc. has a 52 week low of $4.28 and a 52 week high of $11.56.

Insider Activity at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by corporate insiders.

About Maravai LifeSciences

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.