Maravai move lower a buying opportunity, says RBC Capital

Commenting on why Maravai LifeSciences might be down about 15% today, RBC Capital notes that there were two Form 144s released last night that show a current shareholder selling about 10M shares. “Though GTCR was not mentioned in these filings as the seller, the ownership information (number of shares held) coincides with GTCR’s ownership from prior filings,” added the analyst, who believes that GTCR is “selling to take some money off the table.” After these sales, GTCR still owns over 50% of Maravai, added the analyst, who views today’s move as a buying opportunity and reiterates an Outperform rating and $15 price target on the shares.