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

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRVI. 12 West Capital Management LP grew its holdings in Maravai LifeSciences by 92.2% in the third quarter. 12 West Capital Management LP now owns 6,463,111 shares of the company’s stock valued at $64,631,000 after purchasing an additional 3,101,275 shares during the last quarter. Point72 Europe London LLP acquired a new position in Maravai LifeSciences during the 4th quarter valued at approximately $17,059,000. Braidwell LP raised its stake in Maravai LifeSciences by 120.3% during the 3rd quarter. Braidwell LP now owns 3,974,857 shares of the company’s stock valued at $39,749,000 after acquiring an additional 2,170,157 shares in the last quarter. Mackenzie Financial Corp raised its stake in Maravai LifeSciences by 4,061.8% during the 4th quarter. Mackenzie Financial Corp now owns 2,121,161 shares of the company’s stock valued at $30,354,000 after acquiring an additional 2,070,193 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Maravai LifeSciences by 32.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 8,189,798 shares of the company’s stock worth $114,739,000 after buying an additional 2,011,683 shares in the last quarter. Institutional investors and hedge funds own 50.25% of the company’s stock.

Maravai LifeSciences Stock Down 5.0 %

Shares of NASDAQ:MRVI opened at $7.73 on Thursday. The business has a 50-day moving average price of $7.48 and a 200 day moving average price of $6.76. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -8.59 and a beta of 0.01. Maravai LifeSciences has a 12-month low of $4.52 and a 12-month high of $16.62.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $62.99 million. Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. Sell-side analysts expect that Maravai LifeSciences will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Maravai LifeSciences from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Stifel Nicolaus decreased their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, Craig Hallum assumed coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.56.

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.