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

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) gapped up prior to trading 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 changing hands.

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.36.

Maravai LifeSciences Price Performance

The company has a market cap of $953.80 million, a PE ratio of -4.44 and a beta of 0.33. The business has a 50 day moving average of $3.36 and a 200 day moving average of $2.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.29 and a quick ratio of 4.56.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sprott Inc. purchased a new position in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $29,000. Callan Family Office LLC bought a new position in Maravai LifeSciences in the second quarter worth $25,000. Ethic Inc. purchased a new position in Maravai LifeSciences during the second quarter valued at $26,000. Quantessence Capital LLC bought a new stake in shares of Maravai LifeSciences during the 3rd quarter valued at $31,000. Finally, Abel Hall LLC purchased a new stake in shares of Maravai LifeSciences in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

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.