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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of some unusual options trading activity on Wednesday. Investors bought 1,002 put options on the company. This represents an increase of approximately 1,791% compared to the average volume of 53 put options.

Insider Activity

In related news, insider Carl Hull acquired 175,000 shares of Maravai LifeSciences stock in a transaction that occurred on 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 transaction, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Maravai LifeSciences by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company’s stock valued at $3,626,000 after buying an additional 117,120 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Maravai LifeSciences during the 2nd quarter worth approximately $5,373,000. Bamco Inc. NY boosted its position in shares of Maravai LifeSciences by 43.1% during the 1st quarter. Bamco Inc. NY now owns 2,123,651 shares of the company’s stock valued at $18,412,000 after acquiring an additional 640,000 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Maravai LifeSciences by 6,252.8% in the first quarter. Lazard Asset Management LLC now owns 365,159 shares of the company’s stock valued at $3,165,000 after purchasing an additional 359,411 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Maravai LifeSciences by 62.4% in the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock worth $4,770,000 after purchasing an additional 255,990 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Performance

NASDAQ MRVI traded down $0.78 on Friday, hitting $4.42. 4,075,846 shares of the company traded hands, compared to its average volume of 2,273,125. Maravai LifeSciences has a 52-week low of $4.39 and a 52-week high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.28 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.88 and a beta of 0.02. The business’s 50 day moving average price is $7.85 and its 200-day moving average price is $8.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company initiated coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price objective on the stock. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

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.