SG Americas Securities LLC Lowers Position in Maravai LifeSciences Holdings, Inc. $MRVI

SG Americas Securities LLC lessened its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 94.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,996 shares of the company’s stock after selling 402,287 shares during the quarter. SG Americas Securities LLC’s holdings in Maravai LifeSciences were worth $71,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MRVI. T. Rowe Price Investment Management Inc. raised its stake in Maravai LifeSciences by 2.9% in 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 purchasing an additional 178,445 shares in the last quarter. Mackenzie Financial Corp lifted 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 purchasing an additional 104,355 shares during the last quarter. Tejara Capital Ltd grew its stake in Maravai LifeSciences by 23.1% in the 4th quarter. Tejara Capital Ltd now owns 3,020,209 shares of the company’s stock worth $9,816,000 after buying an additional 566,768 shares in the last quarter. Geode Capital Management LLC grew its stake in Maravai LifeSciences by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,848,105 shares of the company’s stock worth $9,259,000 after buying an additional 34,447 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Maravai LifeSciences by 1.1% in the 4th quarter. State Street Corp now owns 2,414,249 shares of the company’s stock worth $7,846,000 after buying an additional 27,219 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Up 4.4%

Shares of NASDAQ:MRVI opened at $6.36 on Tuesday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -8.96 and a beta of 0.65. The stock’s 50-day moving average price is $5.08 and its 200-day moving average price is $3.97. 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 Holdings, Inc. has a 12-month low of $1.99 and a 12-month high of $6.55.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results 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. The company had revenue of $65.84 million during the quarter, compared to analyst estimates of $53.00 million. Maravai LifeSciences had a negative return on equity of 17.87% and a negative net margin of 51.07%. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Maravai LifeSciences news, 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 owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Maravai LifeSciences 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.