Investors Buy High Volume of Maravai LifeSciences Put Options (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 1,002 put options on the stock. This is an increase of 1,791% compared to the average volume of 53 put options.

Maravai LifeSciences Trading Up 3.9 %

NASDAQ MRVI opened at $5.33 on Thursday. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $7.55. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The firm has a market capitalization of $1.35 billion, a P/E ratio of -3.25 and a beta of -0.07.

Insiders Place Their Bets

In related news, insider Carl Hull purchased 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Maravai LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in MRVI. Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 30.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock worth $3,626,000 after buying an additional 117,120 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Maravai LifeSciences in the second quarter worth $5,373,000. Principal Financial Group Inc. grew its stake in Maravai LifeSciences by 62.4% in the 2nd quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock valued at $4,770,000 after purchasing an additional 255,990 shares during the period. Royce & Associates LP increased its position in shares of Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after purchasing an additional 514,332 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of Maravai LifeSciences by 23.3% during the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company’s stock worth $3,222,000 after purchasing an additional 85,000 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MRVI shares. The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. Wolfe Research assumed coverage on Maravai LifeSciences in a research note on Thursday, November 14th. They issued a “peer perform” rating for the company. Royal Bank of Canada lowered their target price on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Guggenheim initiated coverage on shares of Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating for the company. Finally, Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.28.

About Maravai LifeSciences

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.