Key Points
- Maravai LifeSciences General Counsel Kurt Oreshack sold 25,000 shares on June 9 at an average price of $5.06, for proceeds of $126,500. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Oreshack still held 360,767 shares, a stake valued at about $1.83 million. The sale reduced his ownership by 6.48%.
- The company’s stock was trading near $5.08, close to its 52-week high of $5.30. Maravai recently beat quarterly earnings expectations, while analysts currently have a Hold consensus rating with a $5.50 price target.
Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $1,825,481.02. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Maravai LifeSciences Trading Down 0.4%
NASDAQ:MRVI opened at $5.08 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.91 and a quick ratio of 4.96. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.15 and a beta of 0.72. Maravai LifeSciences Holdings, Inc. has a one year low of $1.99 and a one year high of $5.30. The business has a fifty day moving average price of $3.97 and a 200-day moving average price of $3.63.
Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. The firm 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%. Sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.2 EPS for the current year.
Institutional Investors Weigh In On Maravai LifeSciences
Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Maravai LifeSciences by 49.0% in the 1st quarter. Royal Bank of Canada now owns 9,761 shares of the company's stock worth $27,000 after buying an additional 3,209 shares in the last quarter. Sprott Inc. purchased a new stake in Maravai LifeSciences in the 3rd quarter worth $29,000. Virtu Financial LLC purchased a new stake in Maravai LifeSciences in the 4th quarter worth $34,000. Insigneo Advisory Services LLC purchased a new stake in Maravai LifeSciences in the 4th quarter worth $34,000. Finally, Quantessence Capital LLC purchased a new stake in Maravai LifeSciences in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 50.25% of the company's stock.
Wall Street Analysts Forecast Growth
MRVI has been the subject of several analyst reports. Weiss Ratings upgraded Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 29th. UBS Group restated a "reduce" rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. 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. Wall Street Zen upgraded Maravai LifeSciences from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Finally, Wells Fargo & Company increased their price target 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 equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.50.
View Our Latest Stock Report on Maravai LifeSciences
Maravai LifeSciences Company Profile
(
Get Free Report)
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.
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