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

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

Maravai LifeSciences Trading Up 1.7 %

Shares of MRVI stock opened at $5.32 on Thursday. The stock has a 50-day simple moving average of $5.35 and a 200 day simple moving average of $7.29. The stock has a market capitalization of $1.34 billion, a P/E ratio of -3.24 and a beta of -0.07. Maravai LifeSciences has a fifty-two week low of $4.28 and a fifty-two week high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI) last issued its earnings results on Thursday, November 7th. The company reported ($0.09) earnings per share for the quarter. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The business had revenue of $65.20 million for the quarter, compared to the consensus estimate of $67.58 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. On average, sell-side analysts expect that Maravai LifeSciences will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on MRVI shares. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $7.00 to $4.25 in a research report on Thursday, December 5th. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Guggenheim began coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. Royal Bank of Canada decreased their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Robert W. Baird cut their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.28.

Insider Activity

In other news, insider Carl Hull purchased 175,000 shares of Maravai LifeSciences stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Thrivent Financial for Lutherans raised its holdings in Maravai LifeSciences by 6.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 187,760 shares of the company’s stock worth $1,344,000 after buying an additional 11,874 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $266,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at approximately $399,000. Point72 Asset Management L.P. boosted its stake in Maravai LifeSciences by 149.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the period. Finally, Squarepoint Ops LLC grew its position in Maravai LifeSciences by 181.8% during the 2nd quarter. Squarepoint Ops LLC now owns 355,590 shares of the company’s stock worth $2,546,000 after purchasing an additional 229,421 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.