Insider Selling: Maravai LifeSciences (NASDAQ:MRVI) General Counsel Sells 25,000 Shares of Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the transaction, the general counsel owned 360,767 shares of the company’s stock, valued at approximately $1,825,481.02. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI traded down $0.02 during midday trading on Wednesday, reaching $5.08. The company’s stock had a trading volume of 2,704,757 shares, compared to its average volume of 1,896,170. Maravai LifeSciences Holdings, Inc. has a one year low of $1.99 and a one year high of $5.30. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -7.15 and a beta of 0.72. The company has a 50 day moving average price of $3.92 and a 200 day moving average price of $3.61. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.06. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. The business had revenue of $65.84 million during the quarter, compared to analyst estimates of $53.00 million. On average, equities research analysts expect that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group reissued a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.50.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after acquiring an additional 3,209 shares in the last quarter. Barclays PLC lifted its position in shares of Maravai LifeSciences by 3.0% in the 4th quarter. Barclays PLC now owns 172,281 shares of the company’s stock valued at $560,000 after acquiring an additional 5,057 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Maravai LifeSciences by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock valued at $112,000 after acquiring an additional 5,160 shares in the last quarter. Epacria Capital Partners LLC lifted its position in shares of Maravai LifeSciences by 6.8% in the 3rd quarter. Epacria Capital Partners LLC now owns 100,078 shares of the company’s stock valued at $287,000 after acquiring an additional 6,384 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Maravai LifeSciences by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 343,643 shares of the company’s stock valued at $973,000 after acquiring an additional 8,955 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.