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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) saw some unusual options trading on Wednesday. Traders purchased 1,002 put options on the company. This represents an increase of 1,791% compared to the average volume of 53 put options.

Wall Street Analysts Forecast Growth

MRVI has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Maravai LifeSciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 25th. UBS Group lowered their price target on Maravai LifeSciences from $8.00 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 21st. 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 report on Tuesday, May 13th. Stifel Nicolaus set a $5.00 price target on Maravai LifeSciences in a report on Friday, March 21st. Finally, Bank of America lowered their price target on Maravai LifeSciences from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Maravai LifeSciences has a consensus rating of "Hold" and a consensus price target of $6.64.

Hedge Funds Weigh In On Maravai LifeSciences

A number of institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Maravai LifeSciences in the 1st quarter worth about $429,000. McAdam LLC purchased a new position in Maravai LifeSciences in the 1st quarter worth about $31,000. Jane Street Group LLC increased its stake in Maravai LifeSciences by 1,463.1% in the 1st quarter. Jane Street Group LLC now owns 380,403 shares of the company's stock worth $841,000 after purchasing an additional 356,067 shares in the last quarter. Ascent Group LLC purchased a new position in Maravai LifeSciences in the 1st quarter worth about $41,000. Finally, Clearline Capital LP boosted its position in Maravai LifeSciences by 9.6% during the 1st quarter. Clearline Capital LP now owns 205,339 shares of the company's stock worth $454,000 after acquiring an additional 18,000 shares during the period. Hedge funds and other institutional investors own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

NASDAQ:MRVI traded down $0.12 during mid-day trading on Monday, reaching $2.13. 1,197,811 shares of the stock were exchanged, compared to its average volume of 2,341,644. The business has a fifty day moving average price of $2.06 and a 200 day moving average price of $3.68. The firm has a market capitalization of $542.43 million, a PE ratio of -1.30 and a beta of 0.19. Maravai LifeSciences has a 1-year low of $1.67 and a 1-year high of $10.03. The company has a current ratio of 10.74, a quick ratio of 9.94 and a debt-to-equity ratio of 0.89.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $46.85 million during the quarter, compared to analysts' expectations of $44.01 million. Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. Maravai LifeSciences's quarterly revenue was down 26.9% on a year-over-year basis. Research analysts expect that Maravai LifeSciences will post -0.24 earnings per share for the current fiscal year.

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.