Traders Purchase Large Volume of Put Options on Maravai LifeSciences (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw some unusual options trading activity on Wednesday. Traders bought 1,002 put options on the company. This is an increase of approximately 1,791% compared to the typical daily volume of 53 put options.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull acquired 175,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares of the company's stock, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Maravai LifeSciences by 30.1% in the second quarter. Bank of New York Mellon Corp now owns 506,413 shares of the company's stock valued at $3,626,000 after buying an additional 117,120 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Maravai LifeSciences during the second quarter valued at approximately $5,373,000. Principal Financial Group Inc. lifted its position in shares of Maravai LifeSciences by 62.4% during the second quarter. Principal Financial Group Inc. now owns 666,187 shares of the company's stock worth $4,770,000 after purchasing an additional 255,990 shares in the last quarter. Royce & Associates LP lifted its position in shares of Maravai LifeSciences by 130.4% during the third quarter. Royce & Associates LP now owns 908,778 shares of the company's stock worth $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in Maravai LifeSciences by 23.3% during the 2nd quarter. Sivik Global Healthcare LLC now owns 450,000 shares of the company's stock valued at $3,222,000 after purchasing an additional 85,000 shares in the last quarter. 50.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Wolfe Research assumed coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a "peer perform" rating on the stock. Robert W. Baird reduced their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Wells Fargo & Company began coverage on Maravai LifeSciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $10.00 target price on the stock. Finally, The Goldman Sachs Group cut Maravai LifeSciences from a "neutral" rating to a "sell" rating and cut their price target for the stock from $7.00 to $4.25 in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.03.

Maravai LifeSciences Trading Down 1.9 %

Shares of Maravai LifeSciences stock traded down $0.11 during trading hours on Thursday, hitting $5.66. The company's stock had a trading volume of 1,232,242 shares, compared to its average volume of 2,233,015. 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 company has a market capitalization of $1.43 billion, a PE ratio of -3.52 and a beta of -0.08. The business has a fifty day moving average of $6.60 and a 200 day moving average of $7.81. Maravai LifeSciences has a 1-year low of $4.28 and a 1-year high of $11.56.

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.