Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors bought 1,002 put options on the company. This represents an increase of 1,791% compared to the average daily volume of 53 put options.
Maravai LifeSciences Stock Up 1.3 %
Shares of MRVI traded up $0.08 during mid-day trading on Thursday, reaching $6.13. 1,338,231 shares of the stock traded hands, compared to its average volume of 1,376,922. The stock has a fifty day simple moving average of $5.70 and a 200 day simple moving average of $7.42. 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 $1.55 billion, a price-to-earnings ratio of -3.74 and a beta of -0.07.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. 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 report on Friday, November 8th. The Goldman Sachs Group downgraded Maravai LifeSciences from a "neutral" rating to a "sell" rating and lowered their price target for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Royal Bank of Canada cut their price objective on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Finally, Wolfe Research started coverage on shares of Maravai LifeSciences in a report on Thursday, November 14th. They issued a "peer perform" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.28.
Read Our Latest Analysis on Maravai LifeSciences
Insider Transactions at Maravai LifeSciences
In related news, insider Carl Hull bought 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the acquisition, the insider now owns 175,000 shares in the company, valued at $987,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company's stock.
Institutional Investors Weigh In On Maravai LifeSciences
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 30.1% during the 2nd 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock valued at $33,658,000 after acquiring an additional 3,731,924 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Maravai LifeSciences during the 2nd quarter worth $5,373,000. Principal Financial Group Inc. increased its position in shares of Maravai LifeSciences by 62.4% in the 2nd 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 during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Maravai LifeSciences by 130.4% in the 3rd quarter. Royce & Associates LP now owns 908,778 shares of the company's stock valued at $7,552,000 after purchasing an additional 514,332 shares in the last quarter. Hedge funds and other institutional investors own 50.25% of the company's stock.
About Maravai LifeSciences
(
Get Free Report)
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.
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