SG Americas Securities LLC Decreases Stock Holdings in Maravai LifeSciences Holdings, Inc. $MRVI

SG Americas Securities LLC trimmed its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) by 94.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 24,996 shares of the company’s stock after selling 402,287 shares during the quarter. SG Americas Securities LLC’s holdings in Maravai LifeSciences were worth $71,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC grew its stake in shares of Maravai LifeSciences by 1,463.1% in the first quarter. Jane Street Group LLC now owns 380,403 shares of the company’s stock worth $841,000 after purchasing an additional 356,067 shares during the last quarter. Creative Planning raised its position in Maravai LifeSciences by 49.6% during the 2nd quarter. Creative Planning now owns 116,031 shares of the company’s stock valued at $280,000 after purchasing an additional 38,450 shares during the last quarter. Rhumbline Advisers lifted its holdings in Maravai LifeSciences by 20.3% in the 2nd quarter. Rhumbline Advisers now owns 195,272 shares of the company’s stock worth $471,000 after buying an additional 32,940 shares during the period. Prudential Financial Inc. purchased a new stake in Maravai LifeSciences in the 2nd quarter worth approximately $36,000. Finally, Invesco Ltd. grew its position in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Invesco Ltd. now owns 282,192 shares of the company’s stock worth $680,000 after buying an additional 40,495 shares during the last quarter. 50.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Maravai LifeSciences from $4.50 to $5.50 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised Maravai LifeSciences from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. UBS Group reiterated a “reduce” rating on shares of Maravai LifeSciences in a report on Wednesday, June 3rd. Weiss Ratings raised shares of Maravai LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 price objective on shares of Maravai LifeSciences in a 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.50.

Maravai LifeSciences Stock Up 4.4%

MRVI stock opened at $6.36 on Tuesday. Maravai LifeSciences Holdings, Inc. has a fifty-two week low of $1.99 and a fifty-two week high of $6.55. The business’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $3.97. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.96 and a current ratio of 5.91. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -8.96 and a beta of 0.65.

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

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.06, for a total value of $126,500.00. Following the completion of the transaction, the general counsel owned 360,767 shares in the company, valued at approximately $1,825,481.02. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

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.