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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw some unusual options trading on Wednesday. Stock traders purchased 1,002 put options on the company. This is an increase of 1,791% compared to the average daily volume of 53 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MRVI shares. The Goldman Sachs Group cut their price objective on shares of Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada dropped their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley lowered Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. UBS Group lifted their target price on Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Robert W. Baird decreased their price target on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.33.

Maravai LifeSciences Price Performance

MRVI stock opened at $5.92 on Friday. The company’s 50-day moving average price is $7.16 and its two-hundred day moving average price is $8.19. Maravai LifeSciences has a 12 month low of $4.28 and a 12 month high of $11.56. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.49 billion, a P/E ratio of -3.61 and a beta of 0.02.

Insider Activity

In related news, insider Carl Hull acquired 175,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares of the company’s stock, valued at $987,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Maravai LifeSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 10,038,126 shares of the company’s stock valued at $87,031,000 after purchasing an additional 34,232 shares in the last quarter. Millennium Management LLC boosted its stake in Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after buying an additional 653,639 shares in the last quarter. Mackenzie Financial Corp grew its position in Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Maravai LifeSciences by 15.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,550,503 shares of the company’s stock worth $32,582,000 after acquiring an additional 598,530 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock worth $27,791,000 after acquiring an additional 668,552 shares during the last quarter. 50.25% of the stock is currently owned by institutional investors and hedge funds.

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.