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

Key Points

• Maravai LifeSciences experienced a significant rise in put options trading, with investors purchasing 1,002 options, marking an increase of 1,791% from its typical daily volume.
• The company's stock price has declined 12.8%, currently trading at $2.04, while its year-to-date quarterly revenue dropped 26.9% year-over-year.
• Wall Street analysts have varied opinions on Maravai LifeSciences, with a consensus average rating of "Hold" and a reduced target price averaging $6.64.

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors acquired 1,002 put options on the company. Thisrepresentsanincreaseof1,791% compared to the typical daily volume of 53 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Callan Family Office LLC acquired a new position in Maravai LifeSciences in the second quarter valued at about $25,000. Ethic Inc. acquired a new stake in Maravai LifeSciences during the 2nd quarter valued at approximately $26,000. McAdam LLC acquired a new stake in Maravai LifeSciences during the 1st quarter valued at approximately $31,000. Sherbrooke Park Advisers LLC acquired a new stake in Maravai LifeSciences during the 4th quarter valued at approximately $78,000. Finally, EntryPoint Capital LLC acquired a new stake in Maravai LifeSciences during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 50.25% of the company's stock.

Maravai LifeSciences Stock Up 8.4%

Shares of MRVI traded up $0.17 during mid-day trading on Friday, hitting $2.20. 1,582,655 shares of the company's stock were exchanged, compared to its average volume of 1,541,965. The company has a market cap of $560.25 million, a PE ratio of -1.93 and a beta of 0.28. Maravai LifeSciences has a 52 week low of $1.66 and a 52 week high of $9.95. The company has a 50-day simple moving average of $2.39 and a 200 day simple moving average of $2.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.96 and a quick ratio of 5.17.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on MRVI. Robert W. Baird cut their price target on shares of 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 dropped their target price on shares of Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. One equities research 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's stock. Based on data from MarketBeat.com, Maravai LifeSciences currently has an average rating of "Hold" and a consensus price target 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.