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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of some unusual options trading on Wednesday. Stock traders acquired 1,002 put options on the stock. This represents an increase of approximately 1,791% compared to the average volume of 53 put options.

Maravai LifeSciences Stock Down 1.9 %

Maravai LifeSciences stock opened at $8.11 on Friday. Maravai LifeSciences has a fifty-two week low of $4.52 and a fifty-two week high of $11.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00. The company has a market capitalization of $2.04 billion and a P/E ratio of -8.19. The stock has a 50-day simple moving average of $8.54 and a 200-day simple moving average of $8.57.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. The company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.64 million. Maravai LifeSciences had a negative net margin of 47.41% and a negative return on equity of 4.78%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. Equities research analysts expect that Maravai LifeSciences will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVI. GAMMA Investing LLC grew its holdings in shares of Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter worth $32,000. Headlands Technologies LLC purchased a new position in shares of Maravai LifeSciences during the 1st quarter worth $42,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences in the 2nd quarter worth $44,000. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Maravai LifeSciences in the 1st quarter worth $106,000. 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 MRVI shares. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a research report on Friday, August 16th. UBS Group lifted their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group dropped their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley cut Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.67.

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.