Maravai LifeSciences Target of Unusually High Options Trading (NASDAQ:MRVI)

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

Maravai LifeSciences Stock Performance

MRVI opened at $5.63 on Friday. Maravai LifeSciences has a 52-week low of $4.28 and a 52-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. The company has a market cap of $1.42 billion, a P/E ratio of -3.43 and a beta of -0.07. The firm’s 50-day moving average price is $5.36 and its 200-day moving average price is $7.27.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative net margin of 81.13% and a negative return on equity of 6.61%. The company had revenue of $65.20 million for the quarter, compared to analyst estimates of $67.58 million. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities analysts anticipate that Maravai LifeSciences will post -0.24 EPS for the current fiscal year.

Insider Transactions at Maravai LifeSciences

In related news, insider Carl Hull purchased 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $5.64 per share, with a total value of $987,000.00. Following the acquisition, the insider now directly 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. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently bought and sold shares of MRVI. Millennium Management LLC grew its stake in shares of Maravai LifeSciences by 12.3% during the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after purchasing an additional 653,639 shares during the period. Mackenzie Financial Corp lifted its holdings in Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after purchasing an additional 844,325 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Maravai LifeSciences by 1,172.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company’s stock valued at $33,658,000 after purchasing an additional 3,731,924 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings 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 valued at $25,200,000 after purchasing an additional 2,109,199 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Maravai LifeSciences by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock valued at $22,874,000 after purchasing an additional 162,601 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. William Blair reiterated a “market perform” rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note 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 on the stock. Finally, Robert W. Baird decreased 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 note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.