Maravai LifeSciences Sees Unusually Large Options Volume (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the recipient of unusually large options trading activity on Wednesday. Stock investors 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.

Maravai LifeSciences Stock Performance

Shares of NASDAQ:MRVI opened at $2.21 on Thursday. The firm’s 50 day simple moving average is $3.55 and its 200 day simple moving average is $5.45. Maravai LifeSciences has a fifty-two week low of $2.07 and a fifty-two week high of $11.56. The company has a market capitalization of $562.08 million, a price-to-earnings ratio of -1.35 and a beta of -0.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94.

Wall Street Analyst Weigh In

Several research firms have issued reports on MRVI. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. Baird R W lowered Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. Guggenheim started coverage on shares of Maravai LifeSciences in a research report on Thursday, December 19th. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their target price for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.31.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the transaction, the general counsel now directly owns 167,618 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its stake in Maravai LifeSciences by 145.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock worth $29,045,000 after buying an additional 3,161,072 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Maravai LifeSciences by 29.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock worth $25,420,000 after purchasing an additional 1,062,485 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Maravai LifeSciences by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company’s stock valued at $23,166,000 after purchasing an additional 200,411 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Maravai LifeSciences by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock valued at $19,683,000 after purchasing an additional 62,123 shares during the period. Finally, Jennison Associates LLC increased its stake in Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock worth $16,298,000 after purchasing an additional 9,769 shares in the last quarter. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Company Profile

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.