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

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. 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.

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

Analyst Ratings Changes

MRVI has been the subject of a number of research reports. Royal Bank Of Canada reduced their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maravai LifeSciences in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.36.

Maravai LifeSciences Trading Up 2.0%

The stock has a market cap of $962.74 million, a P/E ratio of -4.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.29 and a quick ratio of 4.56. The firm’s fifty day moving average price is $3.34 and its two-hundred day moving average price is $2.77.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Maravai LifeSciences had a negative return on equity of 22.42% and a negative net margin of 62.88%.The company had revenue of $41.63 million during the quarter, compared to the consensus estimate of $49.02 million. As a group, equities research analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in MRVI. Callan Family Office LLC acquired a new position in shares of Maravai LifeSciences during the second quarter worth $25,000. Ethic Inc. purchased a new position in Maravai LifeSciences during the second quarter worth about $26,000. Sprott Inc. purchased a new position in Maravai LifeSciences in the third quarter valued at $29,000. McAdam LLC purchased a new stake in Maravai LifeSciences during the first quarter worth approximately $31,000. Finally, Quantessence Capital LLC purchased a new stake in Maravai LifeSciences in the 3rd quarter valued at $31,000. 50.25% of the stock is currently owned by 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.