Stock Traders Buy Large Volume of Call Options on Maravai LifeSciences (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw unusually large options trading activity on Wednesday. Stock traders acquired 5,247 call options on the stock. This represents an increase of 964% compared to the average volume of 493 call options.

Insider Transactions at Maravai LifeSciences

In related news, General Counsel Kurt Oreshack sold 25,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $5.03, for a total value of $125,750.00. Following the sale, the general counsel now owns 167,618 shares in the company, valued at approximately $843,118.54. This represents a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds have recently modified their holdings of MRVI. Performa Ltd US LLC increased its stake in shares of Maravai LifeSciences by 614.3% in the fourth quarter. Performa Ltd US LLC now owns 5,000 shares of the company’s stock valued at $27,000 after buying an additional 4,300 shares during the period. FNY Investment Advisers LLC grew its holdings in Maravai LifeSciences by 600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 7,000 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares during the last quarter. Farther Finance Advisors LLC increased its position in Maravai LifeSciences by 3,541.4% in the 4th quarter. Farther Finance Advisors LLC now owns 10,196 shares of the company’s stock valued at $56,000 after acquiring an additional 9,916 shares during the period. Cibc World Markets Corp acquired a new position in shares of Maravai LifeSciences during the fourth quarter worth $56,000. Finally, Atria Investments Inc bought a new stake in shares of Maravai LifeSciences in the fourth quarter worth $58,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

Analysts Set New Price Targets

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

Maravai LifeSciences Price Performance

MRVI stock traded down $0.06 during trading on Thursday, reaching $2.38. 871,811 shares of the company were exchanged, compared to its average volume of 3,089,368. Maravai LifeSciences has a twelve month low of $2.25 and a twelve month high of $11.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The company has a market capitalization of $599.75 million, a price-to-earnings ratio of -1.45 and a beta of -0.08. The company has a 50-day moving average of $4.09 and a two-hundred day moving average of $5.90.

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.