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

Geode Capital Management LLC raised its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,752,077 shares of the company's stock after buying an additional 162,601 shares during the quarter. Geode Capital Management LLC owned 1.09% of Maravai LifeSciences worth $22,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVI. Millennium Management LLC boosted its position in Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company's stock valued at $42,735,000 after buying an additional 653,639 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company's stock worth $41,962,000 after purchasing an additional 844,325 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of 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 during the period. Renaissance Technologies LLC increased its position in shares of Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company's stock valued at $27,791,000 after acquiring an additional 668,552 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company's stock worth $25,200,000 after purchasing an additional 2,109,199 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MRVI. Robert W. Baird dropped their price target on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada dropped their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group cut shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. Guggenheim started coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They issued a "neutral" rating on the stock. Finally, Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.28.

Maravai LifeSciences Trading Down 2.0 %

Shares of NASDAQ MRVI traded down $0.11 during midday trading on Friday, hitting $5.50. 1,114,643 shares of the company traded hands, compared to its average volume of 2,205,006. The stock has a 50-day moving average price of $6.01 and a 200 day moving average price of $7.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The firm has a market cap of $1.39 billion, a P/E ratio of -3.35 and a beta of -0.07. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56.

Insider Transactions at Maravai LifeSciences

In other news, insider Carl Hull purchased 175,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company's stock.

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.