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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of some unusual options trading on Wednesday. Stock 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.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Maravai LifeSciences in the 3rd quarter valued at approximately $256,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences during the 2nd quarter worth approximately $32,000. Clearbridge Investments LLC increased its holdings in Maravai LifeSciences by 31.7% in the second quarter. Clearbridge Investments LLC now owns 1,054,109 shares of the company’s stock valued at $7,547,000 after purchasing an additional 253,887 shares during the period. Algert Global LLC acquired a new position in Maravai LifeSciences during the 2nd quarter worth about $1,080,000. Finally, Mackenzie Financial Corp grew its position in shares of Maravai LifeSciences by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after buying an additional 844,325 shares during the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Price Performance

MRVI stock opened at $7.66 on Friday. The company’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.60. Maravai LifeSciences has a 12 month low of $4.52 and a 12 month high of $11.56. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.93 billion, a P/E ratio of -7.74 and a beta of 0.01.

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

Wall Street Analyst Weigh In

MRVI has been the topic of several recent research reports. UBS Group increased their price objective on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. 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 objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Maravai LifeSciences in a report on Friday, August 16th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.