Kurt Oreshack Sells 25,000 Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Stock

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI traded down $0.12 during midday trading on Friday, hitting $4.93. 1,413,916 shares of the company’s stock were exchanged, compared to its average volume of 2,121,486. The firm has a market cap of $1.24 billion, a P/E ratio of -3.01 and a beta of -0.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences Holdings, Inc. has a twelve month low of $4.28 and a twelve month high of $11.56. The stock’s 50 day moving average price is $5.43 and its 200-day moving average price is $7.18.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Thursday, November 7th. The company reported ($0.09) earnings per share for the quarter. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $67.58 million. During the same quarter last year, the company earned ($0.02) earnings per share. Equities research analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Institutional Trading of Maravai LifeSciences

Several large investors have recently added to or reduced their stakes in MRVI. JPMorgan Chase & Co. raised its stake in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after purchasing an additional 3,731,924 shares during the period. Point72 DIFC Ltd acquired a new stake in Maravai LifeSciences during the 3rd quarter valued at $22,108,000. Royce & Associates LP increased its stake in shares of Maravai LifeSciences by 130.4% in the third quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock worth $7,552,000 after acquiring an additional 514,332 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Maravai LifeSciences by 610.2% in the third quarter. Quantinno Capital Management LP now owns 336,527 shares of the company’s stock worth $2,797,000 after acquiring an additional 289,141 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Maravai LifeSciences by 31.7% in the second quarter. Clearbridge Investments LLC now owns 1,054,109 shares of the company’s stock worth $7,547,000 after acquiring an additional 253,887 shares during the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRVI has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada lowered their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their target price for the company from $7.00 to $4.25 in a report on Thursday, December 5th. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.28.

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.