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

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

Insider Activity at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Maravai LifeSciences by 30.1% in 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Maravai LifeSciences by 32.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,450 shares of the company’s stock worth $182,000 after purchasing an additional 6,212 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Maravai LifeSciences by 62.4% in the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company’s stock valued at $4,770,000 after purchasing an additional 255,990 shares during the last quarter. Rhumbline Advisers grew its position in Maravai LifeSciences by 30.4% during the 2nd quarter. Rhumbline Advisers now owns 171,489 shares of the company’s stock worth $1,228,000 after purchasing an additional 39,955 shares during the period. Finally, Choreo LLC purchased a new position in shares of Maravai LifeSciences during the 2nd quarter valued at about $467,000. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Trading Up 1.3 %

Shares of Maravai LifeSciences stock opened at $6.13 on Thursday. The firm’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $7.43. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.74 and a beta of -0.07. Maravai LifeSciences has a 12-month low of $4.28 and a 12-month high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Analyst Ratings Changes

Several brokerages have recently weighed in on MRVI. Robert W. Baird lowered their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. The Goldman Sachs Group downgraded shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.28.

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.