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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MRVI shares. Wells Fargo & Company began coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an "overweight" rating and a $10.00 target price for the company. Robert W. Baird decreased their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Royal Bank of Canada dropped their target price on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a research note on Friday, November 8th. Finally, The Goldman Sachs Group dropped their price target on Maravai LifeSciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $10.33.

Maravai LifeSciences Stock Performance

Shares of Maravai LifeSciences stock traded up $0.30 on Thursday, reaching $5.92. 2,345,281 shares of the stock were exchanged, compared to its average volume of 2,265,089. The business has a 50 day moving average price of $7.16 and a two-hundred day moving average price of $8.19. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.61 and a beta of 0.02. Maravai LifeSciences has a twelve month low of $4.28 and a twelve 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.

Insider Activity

In other news, insider Carl Hull purchased 175,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was acquired 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 owns 175,000 shares in the company, valued at $987,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of Maravai LifeSciences by 310.2% in the second quarter. GAMMA Investing LLC now owns 3,585 shares of the company's stock worth $26,000 after acquiring an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Maravai LifeSciences during the 2nd quarter worth about $32,000. Venturi Wealth Management LLC acquired a new stake in Maravai LifeSciences during the 3rd quarter worth about $47,000. Blue Trust Inc. purchased a new position in shares of Maravai LifeSciences during the 2nd quarter valued at about $44,000. Finally, Custom Index Systems LLC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at about $97,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

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.