Maravai LifeSciences Sees Unusually High Options Volume (NASDAQ:MRVI)

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

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Maravai LifeSciences by 310.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,585 shares of the company’s stock valued at $26,000 after buying an additional 2,711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the second quarter worth $32,000. Headlands Technologies LLC purchased a new position in Maravai LifeSciences in the first quarter worth $42,000. Blue Trust Inc. bought a new position in Maravai LifeSciences in the 2nd quarter valued at $44,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of Maravai LifeSciences during the 4th quarter valued at $95,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MRVI. The Goldman Sachs Group lifted their target price on shares of Maravai LifeSciences from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. UBS Group increased their target price on shares of Maravai LifeSciences from $8.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Maravai LifeSciences in a research note on Friday, August 16th. Wells Fargo & Company initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price objective on the stock. Finally, Morgan Stanley downgraded Maravai LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.78.

Maravai LifeSciences Trading Down 3.0 %

NASDAQ:MRVI opened at $7.66 on Friday. 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 one year low of $4.52 and a one year high of $11.56. The company has a market cap of $1.93 billion, a PE ratio of -7.74 and a beta of 0.01. The firm has a 50-day moving average of $8.79 and a 200-day moving average of $8.60.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter. Maravai LifeSciences had a negative return on equity of 4.78% and a negative net margin of 47.41%. The company had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.64 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Maravai LifeSciences will post -0.17 EPS for the current fiscal year.

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.