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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of unusually large options trading on Wednesday. Stock traders acquired 5,247 call options on the stock. This represents an increase of 964% compared to the average daily volume of 493 call options.

Maravai LifeSciences Stock Down 11.0 %

MRVI stock traded down $0.29 during trading on Wednesday, hitting $2.30. 2,227,396 shares of the company’s stock were exchanged, compared to its average volume of 2,222,334. The business has a 50-day moving average price of $4.16 and a two-hundred day moving average price of $5.93. The stock has a market capitalization of $579.55 million, a price-to-earnings ratio of -1.41 and a beta of -0.08. Maravai LifeSciences has a 52-week low of $2.26 and a 52-week high of $11.56. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Wall Street Analyst Weigh In

MRVI has been the subject of several recent research reports. Bank of America decreased their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Guggenheim started coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They set a “neutral” rating on the stock. Baird R W downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird downgraded Maravai LifeSciences from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $3.00 in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded Maravai LifeSciences from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $4.25 in a research note on Thursday, December 5th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.28.

Insider Transactions at Maravai LifeSciences

In other news, General Counsel Kurt Oreshack sold 25,000 shares of Maravai LifeSciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the sale, the general counsel now directly owns 167,618 shares in the company, valued at approximately $843,118.54. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors have recently added to or reduced their stakes in the business. Performa Ltd US LLC lifted its stake in Maravai LifeSciences by 614.3% during the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock worth $27,000 after purchasing an additional 4,300 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Maravai LifeSciences by 600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock valued at $38,000 after buying an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Maravai LifeSciences by 3,541.4% in the fourth quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after buying an additional 9,916 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $56,000. Finally, Atria Investments Inc purchased a new stake in Maravai LifeSciences in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

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.