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

Key Points

• Stock traders have notably increased their purchase of put options for Maravai LifeSciences, with a significant rise of 1,791% in volume, totaling 1,002 put options traded.
• Analysts have revised their target prices for Maravai LifeSciences, with Craig Hallum setting a target of $10.00 and Royal Bank of Canada lowering it to $5.00, indicating varied sentiments among experts.
• As of Thursday, Maravai LifeSciences shares have experienced a 2.0% decline, currently trading at $2.46, with a market capitalization of approximately $626.46 million.

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

Analyst Ratings Changes

Several research analysts recently commented on MRVI shares. Craig Hallum reduced their target price on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Robert W. Baird reduced their price objective on shares of Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on shares of Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.75.

Institutional Trading of Maravai LifeSciences

Large investors have recently added to or reduced their stakes in the company. Callan Family Office LLC acquired a new position in shares of Maravai LifeSciences in the 2nd quarter worth approximately $25,000. Ethic Inc. bought a new position in Maravai LifeSciences in the 2nd quarter valued at $26,000. McAdam LLC acquired a new position in Maravai LifeSciences in the first quarter worth $31,000. EntryPoint Capital LLC acquired a new position in Maravai LifeSciences in the first quarter worth $32,000. Finally, Prudential Financial Inc. bought a new stake in shares of Maravai LifeSciences during the second quarter worth $36,000. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Stock Down 2.0%

Shares of NASDAQ:MRVI opened at $2.46 on Thursday. The company's fifty day moving average is $2.44 and its 200-day moving average is $2.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.49 and a current ratio of 5.16. Maravai LifeSciences has a 52 week low of $1.66 and a 52 week high of $9.60. The company has a market capitalization of $626.46 million, a PE ratio of -1.81 and a beta of 0.28.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.