Stock Traders Buy High Volume of Maravai LifeSciences Put Options (NASDAQ:MRVI)

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVI. Point72 Europe London LLP purchased a new stake in Maravai LifeSciences in the 4th quarter worth approximately $17,059,000. Point72 Asset Management L.P. increased its stake in shares of Maravai LifeSciences by 149.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the last quarter. 12 West Capital Management LP increased its stake in shares of 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 purchasing an additional 1,600,000 shares during the last quarter. Braidwell LP increased its stake in shares of Maravai LifeSciences by 26.8% during the 4th quarter. Braidwell LP now owns 5,040,635 shares of the company’s stock worth $33,016,000 after purchasing an additional 1,065,778 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of 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 purchasing an additional 844,325 shares during the last quarter. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 1.9 %

Shares of NASDAQ:MRVI opened at $7.90 on Thursday. 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 company has a market cap of $1.99 billion, a PE ratio of -7.98 and a beta of 0.01. Maravai LifeSciences has a 52 week low of $4.52 and a 52 week high of $11.56. The firm has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $8.61.

Maravai LifeSciences (NASDAQ:MRVI) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company had revenue of $73.40 million during the quarter, compared to analysts’ expectations of $71.64 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Maravai LifeSciences will post -0.17 earnings per share for the current year.

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.