Maravai LifeSciences Sees Unusually High Options Volume (NASDAQ:MRVI)

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

Maravai LifeSciences Stock Up 1.3 %

MRVI stock opened at $6.13 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 firm has a 50-day moving average of $5.73 and a two-hundred day moving average of $7.43. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -3.74 and a beta of -0.07.

Insider Transactions at Maravai LifeSciences

In other Maravai LifeSciences news, insider Carl Hull purchased 175,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the purchase, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Maravai LifeSciences by 1,172.4% during the third quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock worth $33,658,000 after buying an additional 3,731,924 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at about $600,000. Barclays PLC grew its holdings in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock valued at $1,531,000 after purchasing an additional 143,184 shares during the period. Neo Ivy Capital Management acquired a new stake in Maravai LifeSciences during the third quarter worth about $136,000. Finally, Geode Capital Management LLC raised its stake in Maravai LifeSciences by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock worth $22,874,000 after purchasing an additional 162,601 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

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