Maravai LifeSciences Target of Unusually Large Options Trading (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of unusually large options trading activity on Wednesday. Stock investors bought 1,002 put options on the stock. This represents an increase of 1,791% compared to the average daily volume of 53 put options.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $8.42 on Thursday. Maravai LifeSciences has a twelve month low of $4.52 and a twelve month high of $16.62. The firm has a market cap of $2.12 billion, a P/E ratio of -9.36 and a beta of 0.01. The company has a 50 day moving average of $7.89 and a 200 day moving average of $6.66. The company has a quick ratio of 7.41, a current ratio of 8.00 and a debt-to-equity ratio of 0.70.

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

Wall Street Analyst Weigh In

Several brokerages have commented on MRVI. Stifel Nicolaus lowered their price objective on shares of Maravai LifeSciences from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Royal Bank of Canada raised their price objective 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. Finally, Craig Hallum started coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a “buy” rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Hedge Funds Weigh In On Maravai LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in Maravai LifeSciences by 163.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,108,554 shares of the company’s stock worth $11,086,000 after purchasing an additional 688,403 shares during the period. Hudson Bay Capital Management LP grew its position in Maravai LifeSciences by 171.9% in the 3rd quarter. Hudson Bay Capital Management LP now owns 659,397 shares of the company’s stock worth $6,594,000 after purchasing an additional 416,876 shares during the period. Mesirow Institutional Investment Management Inc. grew its position in Maravai LifeSciences by 33.6% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 926,277 shares of the company’s stock worth $9,263,000 after purchasing an additional 232,901 shares during the period. Kennedy Capital Management LLC bought a new stake in Maravai LifeSciences in the 3rd quarter worth approximately $1,047,000. Finally, Seven Eight Capital LP bought a new stake in Maravai LifeSciences in the 3rd quarter worth approximately $172,000. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

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.