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

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

Maravai LifeSciences Stock Down 5.0 %

NASDAQ MRVI opened at $2.67 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. Maravai LifeSciences has a 52 week low of $2.65 and a 52 week high of $11.56. The stock has a market capitalization of $674.25 million, a P/E ratio of -1.63 and a beta of -0.08. The stock has a fifty day moving average of $4.64 and a 200-day moving average of $6.32.

Insider Activity

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now owns 167,618 shares of the company’s stock, valued at $843,118.54. The trade was a 12.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Trading of Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Creative Planning boosted its stake in shares of Maravai LifeSciences by 4.4% in the 3rd quarter. Creative Planning now owns 44,943 shares of the company’s stock valued at $373,000 after purchasing an additional 1,881 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in Maravai LifeSciences by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 519,890 shares of the company’s stock valued at $4,320,000 after buying an additional 3,725 shares during the period. Venturi Wealth Management LLC bought a new position in Maravai LifeSciences in the third quarter valued at approximately $47,000. Victory Capital Management Inc. grew its holdings in Maravai LifeSciences by 312.3% during the 3rd quarter. Victory Capital Management Inc. now owns 58,327 shares of the company’s stock worth $485,000 after acquiring an additional 44,180 shares during the period. Finally, Royce & Associates LP raised its position in shares of Maravai LifeSciences by 130.4% during the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company’s stock valued at $7,552,000 after acquiring an additional 514,332 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MRVI shares. Guggenheim initiated coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Royal Bank of Canada dropped their price objective on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Bank of America reduced their target price on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Maravai LifeSciences has a consensus rating of “Hold” and a consensus price target of $9.28.

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.