Maravai LifeSciences (NASDAQ:MRVI) Shares Gap Up Following Insider Buying Activity

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $3.69, but opened at $3.91. Maravai LifeSciences shares last traded at $3.7570, with a volume of 1,090,452 shares changing hands.

Specifically, Director Gregory T. Lucier acquired 48,528 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average price of $3.67 per share, for a total transaction of $178,097.76. Following the completion of the acquisition, the director owned 155,123 shares in the company, valued at $569,301.41. This trade represents a 45.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory T. Lucier purchased 51,472 shares of Maravai LifeSciences stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $3.70 per share, with a total value of $190,446.40. Following the acquisition, the director directly owned 106,595 shares of the company’s stock, valued at approximately $394,401.50. This trade represents a 93.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Maravai LifeSciences in a report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Hold” and a consensus target price of $5.36.

Maravai LifeSciences Trading Down 0.5%

The business’s 50 day moving average price is $3.37 and its 200-day moving average price is $2.79. The company has a current ratio of 5.29, a quick ratio of 4.56 and a debt-to-equity ratio of 0.74. The company has a market cap of $948.68 million, a price-to-earnings ratio of -4.42 and a beta of 0.33.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $41.63 million during the quarter, compared to analyst estimates of $49.02 million. Maravai LifeSciences had a negative net margin of 62.88% and a negative return on equity of 22.42%. On average, equities analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

A number of large investors have recently made changes to their positions in the company. 12 West Capital Management LP boosted its stake in Maravai LifeSciences by 8.0% in the 1st quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company’s stock valued at $27,672,000 after purchasing an additional 930,000 shares during the period. Mirabella Financial Services LLP lifted its holdings in shares of Maravai LifeSciences by 0.3% during the second quarter. Mirabella Financial Services LLP now owns 3,750,000 shares of the company’s stock worth $9,038,000 after buying an additional 10,049 shares in the last quarter. Monaco Asset Management SAM boosted its position in shares of Maravai LifeSciences by 315.0% in the third quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock valued at $10,494,000 after acquiring an additional 2,775,372 shares during the period. Geode Capital Management LLC grew its stake in shares of Maravai LifeSciences by 12.0% in the second quarter. Geode Capital Management LLC now owns 2,984,045 shares of the company’s stock valued at $7,193,000 after acquiring an additional 319,679 shares in the last quarter. Finally, Philosophy Capital Management LLC bought a new position in Maravai LifeSciences during the first quarter worth about $5,731,000. Institutional investors own 50.25% of the company’s stock.

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.