Insider Selling: Maravai LifeSciences (NASDAQ:MRVI) General Counsel Sells $126,500.00 in 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 value of $126,500.00. Following the sale, the general counsel directly owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maravai LifeSciences Price Performance

Shares of MRVI stock opened at $4.98 on Friday. Maravai LifeSciences Holdings, Inc. has a 1-year low of $1.99 and a 1-year high of $5.30. The stock’s 50-day moving average is $4.06 and its 200 day moving average is $3.65. The company has a market cap of $1.29 billion, a P/E ratio of -7.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.91 and a quick ratio of 4.96.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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