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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw some unusual options trading activity on Wednesday. Traders purchased 1,002 put options on the company. This represents an increase of 1,791% compared to the typical volume of 53 put options.

Analyst Ratings Changes

Several research firms have commented on MRVI. Wells Fargo & Company started coverage on shares of Maravai LifeSciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research note on Friday, August 16th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, UBS Group raised their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 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 currently has an average rating of “Moderate Buy” and an average price target of $10.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 12 West Capital Management LP lifted its holdings in Maravai LifeSciences by 13.8% in the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock valued at $114,470,000 after purchasing an additional 1,600,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Maravai LifeSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after buying an additional 34,232 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after buying an additional 653,639 shares in the last quarter. Mackenzie Financial Corp boosted its position in Maravai LifeSciences by 16.8% during the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Finally, Braidwell LP grew its stake in Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock valued at $33,016,000 after acquiring an additional 1,065,778 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Stock Down 3.5 %

Maravai LifeSciences stock opened at $8.84 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. The stock has a market capitalization of $2.23 billion, a PE ratio of -8.93 and a beta of 0.01. The business has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $8.55. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The company had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. Maravai LifeSciences’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. On average, analysts anticipate that Maravai LifeSciences will post -0.17 EPS for the current fiscal year.

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.