Traders Buy High Volume of Put Options on Maravai LifeSciences (NASDAQ:MRVI)

Key Points

• Maravai LifeSciences saw a substantial increase in put options trading, with 1,002 put options purchased, marking a 1,791% surge compared to its typical daily volume of 53.
• Institutional investors now own 50.25% of Maravai LifeSciences, with several firms recently acquiring new stakes in the company.
• Equities analysts have lowered price targets for Maravai LifeSciences, with the consensus rating being "Hold" and an average target price of $5.22.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw some unusual options trading on Wednesday. Stock investors purchased 1,002 put options on the stock. Thisisanincreaseof1,791% compared to the typical daily volume of 53 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its stake in Maravai LifeSciences by 89.8% during the fourth quarter. ProShare Advisors LLC now owns 55,488 shares of the company's stock worth $302,000 after purchasing an additional 26,251 shares during the period. Nuveen LLC bought a new position in Maravai LifeSciences during the first quarter worth about $666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Maravai LifeSciences by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,214 shares of the company's stock worth $1,369,000 after purchasing an additional 45,454 shares during the period. SG Americas Securities LLC lifted its stake in Maravai LifeSciences by 2,005.9% during the first quarter. SG Americas Securities LLC now owns 695,907 shares of the company's stock worth $1,538,000 after purchasing an additional 662,861 shares during the period. Finally, Northern Trust Corp lifted its stake in Maravai LifeSciences by 5.3% during the fourth quarter. Northern Trust Corp now owns 1,070,425 shares of the company's stock worth $5,834,000 after purchasing an additional 53,474 shares during the period. Institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Stock Performance

MRVI stock traded up $0.15 during trading on Friday, reaching $2.51. 1,148,421 shares of the stock were exchanged, compared to its average volume of 1,142,170. Maravai LifeSciences has a twelve month low of $1.66 and a twelve month high of $9.60. The company has a market capitalization of $640.95 million, a P/E ratio of -1.85 and a beta of 0.29. The stock has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $2.38. The company has a current ratio of 5.16, a quick ratio of 4.49 and a debt-to-equity ratio of 0.68.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MRVI shares. Robert W. Baird lowered their price target on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Craig Hallum lowered their price target on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a research 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 on the stock in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.22.

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.