Traders Purchase Large Volume of Maravai LifeSciences Put Options (NASDAQ:MRVI)

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

Insider Buying and Selling at Maravai LifeSciences

In other news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $5.64 per share, with a total value of $987,000.00. Following the completion of the purchase, the insider now owns 175,000 shares of the company’s stock, valued at $987,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MRVI. Point72 Asset Management L.P. raised its holdings in Maravai LifeSciences by 149.6% in the second quarter. Point72 Asset Management L.P. now owns 3,519,561 shares of the company’s stock worth $25,200,000 after purchasing an additional 2,109,199 shares during the period. Mackenzie Financial Corp raised its stake in Maravai LifeSciences by 16.8% during the 2nd quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock worth $41,962,000 after buying an additional 844,325 shares during the period. Dragoneer Investment Group LLC bought a new position in Maravai LifeSciences during the second quarter worth about $5,373,000. Renaissance Technologies LLC grew its stake in Maravai LifeSciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after acquiring an additional 668,552 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Maravai LifeSciences by 12.3% in the second quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock worth $42,735,000 after acquiring an additional 653,639 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Trading Down 4.4 %

NASDAQ:MRVI traded down $0.25 during mid-day trading on Thursday, hitting $5.38. The company had a trading volume of 296,979 shares, compared to its average volume of 2,255,918. The firm has a market cap of $1.36 billion, a P/E ratio of -3.18 and a beta of 0.02. Maravai LifeSciences has a fifty-two week low of $4.68 and a fifty-two week high of $11.56. The business’s fifty day moving average is $7.92 and its two-hundred day moving average is $8.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 9.28 and a current ratio of 10.00.

Analysts Set New Price Targets

MRVI has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada decreased their price target on shares of Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Morgan Stanley cut shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $11.00 to $10.00 in a research report on Tuesday, August 13th. Robert W. Baird reduced their price objective on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Wolfe Research initiated coverage on Maravai LifeSciences in a research note on Thursday. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

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.