Investors Purchase High Volume of Maravai LifeSciences Put Options (NASDAQ:MRVI)

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

Maravai LifeSciences Stock Performance

Shares of MRVI stock traded down $0.25 during mid-day trading on Thursday, reaching $5.38. The stock had a trading volume of 296,979 shares, compared to its average volume of 2,255,918. Maravai LifeSciences has a one year low of $4.68 and a one year high of $11.56. The firm has a market cap of $1.36 billion, a PE ratio of -3.18 and a beta of 0.02. The firm’s 50 day simple moving average is $7.92 and its 200 day simple moving average is $8.46. The company has a quick ratio of 9.28, a current ratio of 10.00 and a debt-to-equity ratio of 0.71.

Insider Buying and Selling at Maravai LifeSciences

In related news, insider Carl Hull purchased 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired 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. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after buying an additional 2,711 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Maravai LifeSciences during the 2nd quarter valued at about $32,000. Headlands Technologies LLC bought a new stake in Maravai LifeSciences in the first quarter valued at about $42,000. Blue Trust Inc. acquired a new position in Maravai LifeSciences in the second quarter worth about $44,000. Finally, Venturi Wealth Management LLC bought a new position in Maravai LifeSciences during the third quarter worth about $47,000. 50.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $10.00 target price for the company. The Goldman Sachs Group decreased their price target on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Robert W. Baird reduced their target price on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 13th. Finally, Wolfe Research assumed coverage on shares of Maravai LifeSciences in a report on Thursday. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Maravai LifeSciences presently has an average rating of “Moderate Buy” and an average target price of $10.33.

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.