Maravai LifeSciences Sees Unusually Large Options Volume (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of unusually large options trading 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.

Maravai LifeSciences Trading Down 3.5 %

Shares of MRVI stock opened at $8.84 on Friday. Maravai LifeSciences has a 1-year low of $4.52 and a 1-year high of $11.56. The firm has a market cap of $2.23 billion, a PE ratio of -8.93 and a beta of 0.01. The company has a 50-day moving average of $8.89 and a two-hundred day moving average of $8.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28.

Maravai LifeSciences (NASDAQ:MRVI) last issued 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 during the quarter, compared to analyst estimates of $71.64 million. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, analysts predict that Maravai LifeSciences will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

A number of institutional investors have recently modified their holdings of MRVI. Bank of New York Mellon Corp increased its stake 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 worth $3,626,000 after buying an additional 117,120 shares during the period. Jump Financial LLC acquired a new stake in shares of Maravai LifeSciences in the fourth quarter valued at $225,000. Principal Financial Group Inc. boosted its holdings in Maravai LifeSciences by 3,349.6% in the first quarter. Principal Financial Group Inc. now owns 410,197 shares of the company’s stock valued at $3,556,000 after purchasing an additional 398,306 shares during the period. Jennison Associates LLC acquired a new position in Maravai LifeSciences during the 1st quarter worth $3,415,000. Finally, Point72 Europe London LLP purchased a new stake in Maravai LifeSciences during the 4th quarter worth about $17,059,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on MRVI shares. The Goldman Sachs Group upped their target price on Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. UBS Group upped their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Maravai LifeSciences in a report on Friday, August 16th. Finally, Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.78.

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.