Traders Buy 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. Traders bought 1,002 put options on the company. This is an increase of 1,791% compared to the average volume of 53 put options.

Maravai LifeSciences Stock Down 1.2 %

NASDAQ MRVI opened at $5.63 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.00 and a quick ratio of 9.28. Maravai LifeSciences has a 52-week low of $4.68 and a 52-week high of $11.56. The firm has a 50-day moving average price of $7.97 and a 200 day moving average price of $8.48.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRVI shares. The Goldman Sachs Group decreased their price objective on Maravai LifeSciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Robert W. Baird lowered their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Morgan Stanley lowered shares of Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Maravai LifeSciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $10.00 target price for the company. Finally, William Blair restated a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Maravai LifeSciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Buying and Selling

In related news, insider Carl Hull acquired 175,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was bought at an average price of $5.64 per share, for a total transaction of $987,000.00. Following the completion of the purchase, the insider now directly owns 175,000 shares of the company’s stock, valued at approximately $987,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its stake in shares of 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 valued at $25,200,000 after buying an additional 2,109,199 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Maravai LifeSciences by 16.8% in the second quarter. Mackenzie Financial Corp now owns 5,860,641 shares of the company’s stock valued at $41,962,000 after acquiring an additional 844,325 shares during the period. Dragoneer Investment Group LLC acquired a new position in shares of Maravai LifeSciences during the 2nd quarter worth $5,373,000. Renaissance Technologies LLC increased its holdings in shares of Maravai LifeSciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,881,441 shares of the company’s stock valued at $27,791,000 after purchasing an additional 668,552 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Maravai LifeSciences by 12.3% in the 2nd quarter. Millennium Management LLC now owns 5,968,592 shares of the company’s stock valued at $42,735,000 after purchasing an additional 653,639 shares in the last quarter. Institutional investors and hedge funds 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.