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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw some unusual options trading activity on Wednesday. Stock traders acquired 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 Trading of Maravai LifeSciences

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Maravai LifeSciences by 310.2% during the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Maravai LifeSciences during the 2nd quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in Maravai LifeSciences in the 1st quarter worth about $42,000. Blue Trust Inc. bought a new stake in Maravai LifeSciences in the second quarter worth about $44,000. Finally, Custom Index Systems LLC purchased a new position in shares of Maravai LifeSciences during the third quarter valued at approximately $97,000. 50.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Maravai LifeSciences Price Performance

MRVI stock opened at $7.41 on Friday. Maravai LifeSciences has a 52 week low of $4.52 and a 52 week high of $11.56. The firm has a market capitalization of $1.87 billion and a P/E ratio of -7.48. The company has a fifty day simple moving average of $8.30 and a two-hundred day simple moving average of $8.51. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71.

Maravai LifeSciences (NASDAQ:MRVI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) 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 prior year, the business posted ($0.06) EPS. The company’s revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Maravai LifeSciences will post -0.17 earnings per share 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.