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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of unusually large options trading activity on Wednesday. Traders purchased 1,002 put options on the stock. This represents an increase of 1,791% compared to the typical daily volume of 53 put options.

Insiders Place Their Bets

In other news, General Counsel Kurt Oreshack sold 25,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.03, for a total value of $125,750.00. Following the transaction, the general counsel now owns 167,618 shares of the company’s stock, valued at approximately $843,118.54. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its holdings in Maravai LifeSciences by 145.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,329,420 shares of the company’s stock valued at $29,045,000 after acquiring an additional 3,161,072 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Maravai LifeSciences by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,664,210 shares of the company’s stock valued at $25,420,000 after purchasing an additional 1,062,485 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $23,166,000 after purchasing an additional 200,411 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Maravai LifeSciences by 1.8% in the fourth quarter. Ameriprise Financial Inc. now owns 3,611,625 shares of the company’s stock worth $19,683,000 after buying an additional 62,123 shares during the period. Finally, Jennison Associates LLC boosted its position in Maravai LifeSciences by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,990,414 shares of the company’s stock valued at $16,298,000 after buying an additional 9,769 shares during the period. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MRVI shares. Guggenheim initiated coverage on Maravai LifeSciences in a report on Thursday, December 19th. They issued a “neutral” rating on the stock. Baird R W downgraded shares of Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America dropped their target price on shares of Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lowered shares of Maravai LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $7.00 to $4.25 in a report on Thursday, December 5th. Finally, Robert W. Baird downgraded shares of Maravai LifeSciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $3.00 in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Maravai LifeSciences presently has a consensus rating of “Hold” and an average target price of $9.28.

Maravai LifeSciences Price Performance

Shares of NASDAQ:MRVI opened at $2.43 on Thursday. The company’s fifty day moving average is $4.09 and its 200 day moving average is $5.90. The company has a quick ratio of 9.94, a current ratio of 10.74 and a debt-to-equity ratio of 0.89. Maravai LifeSciences has a 52 week low of $2.25 and a 52 week high of $11.56. The stock has a market cap of $613.64 million, a PE ratio of -1.48 and a beta of -0.08.

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.