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

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

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $5.21 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -7.34 and a beta of 0.72. The company has a current ratio of 5.91, a quick ratio of 4.96 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $4.02 and its 200 day moving average is $3.64. Maravai LifeSciences Holdings, Inc. has a 12 month low of $1.99 and a 12 month high of $5.30.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company’s stock valued at $27,000 after purchasing an additional 3,209 shares during the period. Sprott Inc. bought a new position in Maravai LifeSciences in the 3rd quarter valued at $29,000. Quantessence Capital LLC bought a new position in Maravai LifeSciences in the 3rd quarter valued at $31,000. Abel Hall LLC bought a new position in Maravai LifeSciences in the 3rd quarter valued at $33,000. Finally, CIBC Bancorp USA Inc. bought a new position in Maravai LifeSciences in the 3rd quarter valued at $33,000. 50.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a report on Friday, May 8th. 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 reaffirmed a “buy” rating and issued a $6.00 price target on shares of Maravai LifeSciences in a report on Friday, May 8th. Finally, UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Maravai LifeSciences Company 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.