Geode Capital Management LLC Purchases 319,679 Shares of Maravai LifeSciences Holdings, Inc. $MRVI

Geode Capital Management LLC increased its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 12.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,984,045 shares of the company’s stock after purchasing an additional 319,679 shares during the period. Geode Capital Management LLC’s holdings in Maravai LifeSciences were worth $7,193,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in MRVI. Nuveen LLC bought a new position in Maravai LifeSciences during the first quarter worth about $666,000. Philosophy Capital Management LLC purchased a new stake in shares of Maravai LifeSciences during the 1st quarter valued at approximately $5,731,000. Jacobs Levy Equity Management Inc. boosted its holdings in Maravai LifeSciences by 437.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 493,582 shares of the company’s stock worth $1,091,000 after buying an additional 401,673 shares during the period. Strs Ohio purchased a new position in Maravai LifeSciences in the 1st quarter valued at approximately $429,000. Finally, Parkman Healthcare Partners LLC grew its stake in Maravai LifeSciences by 88.6% in the 1st quarter. Parkman Healthcare Partners LLC now owns 660,000 shares of the company’s stock valued at $1,459,000 after buying an additional 310,000 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Maravai LifeSciences news, CEO Bernd Brust purchased 216,212 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $3.25 per share, with a total value of $702,689.00. Following the acquisition, the chief executive officer directly owned 466,771 shares in the company, valued at approximately $1,517,005.75. The trade was a 86.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 466,771 shares of company stock valued at $1,511,699. 2.11% of the stock is owned by corporate insiders.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $3.70 on Friday. The company’s 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $2.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.29 and a quick ratio of 4.56. Maravai LifeSciences Holdings, Inc. has a 1 year low of $1.66 and a 1 year high of $6.21. The stock has a market capitalization of $946.13 million, a PE ratio of -4.40 and a beta of 0.33.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Maravai LifeSciences had a negative return on equity of 22.42% and a negative net margin of 62.88%.The firm had revenue of $41.63 million during the quarter, compared to the consensus estimate of $49.02 million. Analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.36.

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.