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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw some unusual options trading on Wednesday. Traders bought 1,002 put options on the stock. Thisrepresentsanincreaseofapproximately1,791% compared to the typical volume of 53 put options.

Hedge Funds Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC lifted its stake in shares of Maravai LifeSciences by 34.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 321,879 shares of the company’s stock valued at $776,000 after purchasing an additional 82,522 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Maravai LifeSciences by 121.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,021 shares of the company’s stock worth $43,000 after acquiring an additional 9,870 shares in the last quarter. Lazard Asset Management LLC lifted its position in Maravai LifeSciences by 3.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,450,421 shares of the company’s stock worth $3,495,000 after acquiring an additional 44,128 shares in the last quarter. Engineers Gate Manager LP lifted its position in Maravai LifeSciences by 21.6% during the 2nd quarter. Engineers Gate Manager LP now owns 190,137 shares of the company’s stock worth $458,000 after acquiring an additional 33,712 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Maravai LifeSciences by 17.2% during the 2nd quarter. Bank of America Corp DE now owns 1,029,645 shares of the company’s stock worth $2,481,000 after acquiring an additional 151,205 shares in the last quarter. 50.25% of the stock is owned by institutional investors and hedge funds.

Maravai LifeSciences Stock Performance

NASDAQ MRVI opened at $2.36 on Friday. The firm has a market capitalization of $602.65 million, a P/E ratio of -1.74 and a beta of 0.29. Maravai LifeSciences has a 1-year low of $1.66 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.16 and a quick ratio of 4.49. The business’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.39.

Analyst Ratings Changes

Several analysts have commented on the company. Craig Hallum lowered their price target on Maravai LifeSciences from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Robert W. Baird lowered their price target on Maravai LifeSciences from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their price target on Maravai LifeSciences from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.22.

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.