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

Geode Capital Management LLC raised its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,752,077 shares of the company’s stock after purchasing an additional 162,601 shares during the quarter. Geode Capital Management LLC owned approximately 1.09% of Maravai LifeSciences worth $22,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MRVI. Creative Planning lifted its holdings in shares of Maravai LifeSciences by 4.4% in the third quarter. Creative Planning now owns 44,943 shares of the company’s stock worth $373,000 after buying an additional 1,881 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock worth $4,320,000 after buying an additional 3,725 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Maravai LifeSciences in the second quarter worth about $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Maravai LifeSciences in the third quarter worth about $47,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Maravai LifeSciences by 4.8% in the third quarter. Orion Portfolio Solutions LLC now owns 135,749 shares of the company’s stock worth $1,128,000 after buying an additional 6,177 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MRVI has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Robert W. Baird decreased their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Finally, Wolfe Research began coverage on shares of Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.28.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.63% of the company’s stock.

Maravai LifeSciences Stock Down 2.0 %

Shares of NASDAQ MRVI opened at $5.50 on Friday. Maravai LifeSciences Holdings, Inc. has a one year low of $4.28 and a one year high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The firm’s 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $7.52. The stock has a market capitalization of $1.39 billion, a P/E ratio of -3.35 and a beta of -0.07.

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.