Brummer Multi Strategy AB Raises Position in Maravai LifeSciences Holdings, Inc. $MRVI

Brummer Multi Strategy AB lifted its holdings in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 66.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 759,743 shares of the company’s stock after acquiring an additional 302,036 shares during the period. Maravai LifeSciences comprises about 8.9% of Brummer Multi Strategy AB’s holdings, making the stock its 5th biggest position. Brummer Multi Strategy AB’s holdings in Maravai LifeSciences were worth $2,150,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of MRVI. Quantessence Capital LLC bought a new position in Maravai LifeSciences in the third quarter valued at about $31,000. Abel Hall LLC bought a new position in shares of Maravai LifeSciences in the third quarter worth about $33,000. CIBC Bancorp USA Inc. bought a new position in shares of Maravai LifeSciences in the third quarter worth about $33,000. Virtu Financial LLC acquired a new stake in shares of Maravai LifeSciences in the 4th quarter valued at approximately $34,000. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Maravai LifeSciences in the 4th quarter valued at approximately $34,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the sale, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. The trade was a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.49% of the company’s stock.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $7.09 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of -9.99 and a beta of 0.65. The firm’s fifty day moving average is $5.26 and its 200-day moving average is $4.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.99 and a 52 week high of $7.12.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. The company had revenue of $65.84 million for the quarter, compared to analysts’ expectations of $53.00 million. Maravai LifeSciences had a negative net margin of 51.07% and a negative return on equity of 17.87%. Sell-side analysts predict that Maravai LifeSciences Holdings, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

MRVI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $6.00 price objective on shares of Maravai LifeSciences in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Maravai LifeSciences from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. UBS Group reaffirmed a “reduce” rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the stock an “overweight” rating in a report 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 stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Company Profile

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.