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

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

Maravai LifeSciences Stock Performance

Shares of MRVI opened at $5.08 on Thursday. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $3.97 and its 200-day moving average price is $3.63. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.99 and a 52 week high of $5.30. The stock has a market cap of $1.31 billion, a P/E ratio of -7.15 and a beta of 0.72.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.06. The business had revenue of $65.84 million for the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. Equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRVI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Wells Fargo & Company upped their price objective on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.50.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Maravai LifeSciences by 2.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,336,680 shares of the company’s stock valued at $20,595,000 after buying an additional 178,445 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Maravai LifeSciences by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,173,656 shares of the company’s stock valued at $20,148,000 after buying an additional 104,355 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Maravai LifeSciences by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,264,689 shares of the company’s stock valued at $12,069,000 after buying an additional 39,600 shares during the period. Monaco Asset Management SAM lifted its holdings in shares of Maravai LifeSciences by 315.0% during the 3rd quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock valued at $10,494,000 after buying an additional 2,775,372 shares during the period. Finally, Tejara Capital Ltd lifted its holdings in shares of Maravai LifeSciences by 23.1% during the 4th quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company’s stock valued at $9,816,000 after buying an additional 566,768 shares during the period. 50.25% of the stock is owned by institutional investors.

About Maravai LifeSciences

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.