Maravai LifeSciences (NASDAQ:MRVI) CEO Acquires $702,689.00 in Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) CEO Bernd Brust acquired 216,212 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $3.25 per share, with a total value of $702,689.00. Following the completion of the purchase, the chief executive officer directly owned 466,771 shares in the company, valued at $1,517,005.75. This represents a 86.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bernd Brust also recently made the following trade(s):

• On Wednesday, November 12th, Bernd Brust bought 93,358 shares of Maravai LifeSciences stock. The shares were acquired at an average price of $3.21 per share, with a total value of $299,679.18.
• On Tuesday, November 11th, Bernd Brust purchased 157,201 shares of Maravai LifeSciences stock. The stock was acquired at an average price of $3.24 per share, for a total transaction of $509,331.24.

Maravai LifeSciences Price Performance

Shares of MRVI traded down $0.30 during mid-day trading on Monday, reaching $3.34. 1,090,622 shares of the company’s stock were exchanged, compared to its average volume of 2,135,036. The company has a quick ratio of 4.56, a current ratio of 5.29 and a debt-to-equity ratio of 0.74. Maravai LifeSciences Holdings, Inc. has a 52-week low of $1.66 and a 52-week high of $6.21. The company has a market cap of $854.07 million, a price-to-earnings ratio of -3.98 and a beta of 0.34. The company has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $2.60.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Maravai LifeSciences had a negative net margin of 62.88% and a negative return on equity of 22.42%. The company had revenue of $41.63 million for the quarter, compared to analyst estimates of $49.02 million. On average, sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in Maravai LifeSciences by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,528 shares of the company’s stock worth $112,000 after acquiring an additional 5,160 shares in the last quarter. Performa Ltd US LLC grew its holdings in Maravai LifeSciences by 33.3% during the 2nd quarter. Performa Ltd US LLC now owns 22,990 shares of the company’s stock worth $55,000 after acquiring an additional 5,740 shares in the last quarter. Epacria Capital Partners LLC increased 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 worth $287,000 after purchasing an additional 6,384 shares during the last quarter. Ethic Inc. raised its stake in shares of Maravai LifeSciences by 62.8% in the 3rd quarter. Ethic Inc. now owns 16,951 shares of the company’s stock valued at $49,000 after purchasing an additional 6,540 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Maravai LifeSciences by 121.1% during the second quarter. Tower Research Capital LLC TRC now owns 18,021 shares of the company’s stock worth $43,000 after purchasing an additional 9,870 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MRVI. Royal Bank Of Canada reduced their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.22.

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.