Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw unusually large options trading on Wednesday. Stock investors bought 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.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MRVI. William Blair reissued a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. Baird R W downgraded Maravai LifeSciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Guggenheim began coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a "neutral" rating for the company. Bank of America reduced their price target on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday. Finally, Wolfe Research started coverage on Maravai LifeSciences in a report on Thursday, November 14th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $9.28.
Read Our Latest Report on MRVI
Maravai LifeSciences Stock Down 1.1 %
Shares of Maravai LifeSciences stock opened at $2.81 on Thursday. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89. The business's 50 day simple moving average is $4.70 and its 200-day simple moving average is $6.35. The stock has a market capitalization of $709.60 million, a price-to-earnings ratio of -1.71 and a beta of -0.08. Maravai LifeSciences has a twelve month low of $2.72 and a twelve month high of $11.56.
Insiders Place Their Bets
In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the completion of the transaction, the general counsel now owns 167,618 shares of the company's stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by insiders.
Institutional Trading of Maravai LifeSciences
Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Maravai LifeSciences by 1,172.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,050,245 shares of the company's stock worth $33,658,000 after purchasing an additional 3,731,924 shares during the period. Royce & Associates LP raised its position in shares of Maravai LifeSciences by 130.4% during the 3rd 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 during the period. Barclays PLC raised its position in shares of Maravai LifeSciences by 349.2% during the 3rd quarter. Barclays PLC now owns 184,189 shares of the company's stock worth $1,531,000 after purchasing an additional 143,184 shares during the period. Systematic Financial Management LP increased its position in Maravai LifeSciences by 14.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,612,161 shares of the company's stock valued at $13,397,000 after acquiring an additional 206,499 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Maravai LifeSciences in the 4th quarter valued at approximately $155,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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