Investors Buy Large Volume of Put Options on Maravai LifeSciences (NASDAQ:MRVI)

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MRVI. Cibc World Markets Corp bought a new position in shares of Maravai LifeSciences during the 4th quarter worth approximately $56,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Maravai LifeSciences during the fourth quarter worth $112,000. Pier Capital LLC boosted its position in shares of Maravai LifeSciences by 137.0% in the fourth quarter. Pier Capital LLC now owns 1,127,773 shares of the company's stock valued at $6,146,000 after acquiring an additional 651,921 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Maravai LifeSciences by 118.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,508 shares of the company's stock valued at $298,000 after acquiring an additional 28,480 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Maravai LifeSciences by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,250,656 shares of the company's stock valued at $23,166,000 after acquiring an additional 200,411 shares during the period. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Performance

Shares of NASDAQ MRVI traded down $0.02 during midday trading on Friday, hitting $2.69. 874,365 shares of the company's stock were exchanged, compared to its average volume of 1,832,825. The company has a quick ratio of 5.17, a current ratio of 5.96 and a debt-to-equity ratio of 0.60. Maravai LifeSciences has a 12 month low of $1.66 and a 12 month high of $10.03. The company's 50 day moving average price is $2.38 and its 200 day moving average price is $2.89. The firm has a market capitalization of $685.04 million, a PE ratio of -2.36 and a beta of 0.28.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Maravai LifeSciences had a negative return on equity of 12.91% and a negative net margin of 67.14%. The business had revenue of $46.85 million for the quarter, compared to the consensus estimate of $44.01 million. The company's quarterly revenue was down 26.9% on a year-over-year basis. As a group, analysts predict that Maravai LifeSciences will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRVI. Craig Hallum dropped their target price 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. Robert W. Baird dropped their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.64.

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.