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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw unusually large options trading activity on Wednesday. Stock traders bought 5,247 call options on the company. This represents an increase of approximately 964% compared to the average volume of 493 call options.

Wall Street Analysts Forecast Growth

MRVI has been the topic of a number of recent analyst reports. Robert W. Baird cut shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Guggenheim started coverage on shares of Maravai LifeSciences in a report on Thursday, December 19th. They set a “neutral” rating for the company. Bank of America cut their price objective on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and cut their price objective for the company from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Baird R W lowered shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.28.

Insiders Place Their Bets

In other Maravai LifeSciences news, General Counsel Kurt Oreshack sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the sale, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Performa Ltd US LLC boosted its stake in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after buying an additional 4,300 shares during the period. FNY Investment Advisers LLC boosted its stake in Maravai LifeSciences by 600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after buying an additional 6,000 shares during the period. Farther Finance Advisors LLC boosted its stake in Maravai LifeSciences by 3,541.4% during the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock worth $56,000 after buying an additional 9,916 shares during the period. Cibc World Markets Corp purchased a new position in Maravai LifeSciences during the fourth quarter worth $56,000. Finally, Atria Investments Inc purchased a new position in Maravai LifeSciences during the fourth quarter worth $58,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI stock traded down $0.29 on Wednesday, reaching $2.30. The company’s stock had a trading volume of 2,227,396 shares, compared to its average volume of 2,222,334. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $4.16 and its 200-day simple moving average is $5.93. The company has a market capitalization of $579.55 million, a price-to-earnings ratio of -1.41 and a beta of -0.08. Maravai LifeSciences has a 1 year low of $2.26 and a 1 year high of $11.56.

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.