Traders Buy Large Volume of Maravai LifeSciences Put Options (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of unusually large options trading on Wednesday. Stock traders acquired 1,002 put options on the stock. This is an increase of 1,791% compared to the typical volume of 53 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MRVI shares. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price objective on shares of Maravai LifeSciences in a research note on Friday, August 16th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. UBS Group raised their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group decreased their target price on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.67.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $8.27 on Thursday. The company has a current ratio of 10.00, a quick ratio of 9.28 and a debt-to-equity ratio of 0.71. Maravai LifeSciences has a 1 year low of $4.52 and a 1 year high of $11.56. The business has a fifty day simple moving average of $8.55 and a 200 day simple moving average of $8.57. The firm has a market cap of $2.08 billion and a price-to-earnings ratio of -8.35.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The firm had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Maravai LifeSciences’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Maravai LifeSciences will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its holdings in Maravai LifeSciences by 11.7% during the first quarter. QRG Capital Management Inc. now owns 17,143 shares of the company’s stock valued at $149,000 after buying an additional 1,796 shares in the last quarter. Creative Planning raised its holdings in Maravai LifeSciences by 4.4% during the third quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after buying an additional 1,881 shares in the last quarter. GAMMA Investing LLC raised its holdings in Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after buying an additional 2,711 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Maravai LifeSciences by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,595 shares of the company’s stock valued at $639,000 after buying an additional 3,575 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences during the second quarter valued at about $32,000. 50.25% of the stock is currently owned by institutional investors.

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.