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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of unusually large options trading on Wednesday. Traders bought 1,002 put options on the company. This represents an increase of approximately 1,791% compared to the typical daily volume of 53 put options.

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 12 West Capital Management LP grew its position in Maravai LifeSciences by 13.8% during the 1st quarter. 12 West Capital Management LP now owns 13,202,988 shares of the company’s stock worth $114,470,000 after acquiring an additional 1,600,000 shares during the last quarter. Vanguard Group Inc. grew its position in Maravai LifeSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock worth $87,031,000 after acquiring an additional 34,232 shares during the last quarter. Millennium Management LLC grew its position in 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 acquiring an additional 653,639 shares during the last quarter. Mackenzie Financial Corp grew its position in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Maravai LifeSciences by 15.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares during the last quarter. Institutional investors own 50.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MRVI. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective on the stock. UBS Group raised their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Maravai LifeSciences Trading Up 7.3 %

Shares of MRVI opened at $7.63 on Thursday. Maravai LifeSciences has a 52-week low of $4.52 and a 52-week high of $11.56. The business’s fifty day moving average is $8.33 and its 200-day moving average is $8.52. 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 firm has a market cap of $1.92 billion and a price-to-earnings ratio of -7.71.

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

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.