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

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

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $4.93 on Friday. Maravai LifeSciences Holdings, Inc. has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $5.42 and its 200 day moving average is $7.16.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The firm had revenue of $65.20 million during the quarter, compared to the consensus estimate of $67.58 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. As a group, equities analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on MRVI shares. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Guggenheim started coverage on Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating on the stock. 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 research note on Friday, November 8th. Robert W. Baird cut their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.28.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of Maravai LifeSciences by 9.9% in the 4th quarter. Rhumbline Advisers now owns 185,221 shares of the company’s stock worth $1,009,000 after purchasing an additional 16,712 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Maravai LifeSciences in the fourth quarter worth about $155,000. Bleakley Financial Group LLC boosted its holdings in Maravai LifeSciences by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock valued at $227,000 after acquiring an additional 9,657 shares during the period. E. Ohman J or Asset Management AB grew its position in Maravai LifeSciences by 10.7% during the 4th quarter. E. Ohman J or Asset Management AB now owns 257,751 shares of the company’s stock worth $1,405,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Maravai LifeSciences by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after purchasing an additional 9,769 shares during the period. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.