Brummer Multi Strategy AB Has $2.15 Million Stock Position in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Brummer Multi Strategy AB increased its Maravai LifeSciences stake by 66% in Q1, buying 302,036 shares and bringing its total to 759,743 shares worth about $2.15 million.
• Maravai saw mixed insider activity, with General Counsel Kurt Oreshack selling 25,000 shares in a pre-arranged Rule 10b5-1 transaction valued at $126,500.
• The company reported better-than-expected Q1 results, posting $0.01 EPS versus an estimated loss and revenue of $65.84 million, while analysts currently rate the stock Hold on average with a $5.50 price target.

Brummer Multi Strategy AB raised its position in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 66.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,743 shares of the company's stock after buying an additional 302,036 shares during the quarter. Maravai LifeSciences accounts for 8.9% of Brummer Multi Strategy AB's holdings, making the stock its 5th biggest holding. Brummer Multi Strategy AB owned 0.30% of Maravai LifeSciences worth $2,150,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MRVI. Virtu Financial LLC acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth $34,000. Insigneo Advisory Services LLC acquired a new position in shares of Maravai LifeSciences in the fourth quarter valued at about $34,000. Quantessence Capital LLC acquired a new position in shares of Maravai LifeSciences in the third quarter valued at about $31,000. Stifel Financial Corp bought a new position in Maravai LifeSciences during the fourth quarter worth about $36,000. Finally, Jain Global LLC bought a new position in Maravai LifeSciences during the fourth quarter worth about $36,000. Institutional investors own 50.25% of the company's stock.

Insider Buying and Selling at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the completion of the sale, the general counsel owned 360,767 shares of the company's stock, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.49% of the company's stock.

Analyst Upgrades and Downgrades

MRVI has been the subject of a number of recent research reports. Wall Street Zen raised shares of Maravai LifeSciences from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Weiss Ratings raised shares of Maravai LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 29th. Wells Fargo & Company lifted their price target on shares of Maravai LifeSciences from $4.50 to $5.50 and gave the company an "overweight" rating in a research report on Friday, May 8th. UBS Group reiterated a "reduce" rating on shares of Maravai LifeSciences in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $6.00 price target on shares of Maravai LifeSciences in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Hold" and an average price target of $5.50.

Maravai LifeSciences Stock Up 0.7%

MRVI stock opened at $7.09 on Friday. Maravai LifeSciences Holdings, Inc. has a 52 week low of $1.99 and a 52 week high of $7.12. The business has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $4.04. The company has a quick ratio of 4.96, a current ratio of 5.91 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.83 billion, a PE ratio of -9.99 and a beta of 0.65.

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

About Maravai LifeSciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.