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

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

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price target on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.25.

Maravai LifeSciences Trading Up 3.4%

NASDAQ:MRVI opened at $3.08 on Friday. Maravai LifeSciences has a 12-month low of $1.66 and a 12-month high of $4.30. The firm has a market capitalization of $787.59 million, a P/E ratio of -3.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.29 and a quick ratio of 4.56. The business has a 50 day simple moving average of $3.47 and a 200 day simple moving average of $3.16.

Insider Activity

In other Maravai LifeSciences news, Director Gregory T. Lucier bought 51,472 shares of Maravai LifeSciences stock in a transaction dated Friday, December 5th. The stock was bought at an average cost of $3.70 per share, for a total transaction of $190,446.40. Following the purchase, the director owned 106,595 shares in the company, valued at $394,401.50. This represents a 93.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maravai LifeSciences

Several institutional investors have recently modified their holdings of MRVI. Ethic Inc. acquired a new position in shares of Maravai LifeSciences during the second quarter valued at approximately $26,000. Sprott Inc. bought a new position in Maravai LifeSciences during the 3rd quarter valued at $29,000. Quantessence Capital LLC bought a new position in Maravai LifeSciences during the 3rd quarter valued at $31,000. Abel Hall LLC acquired a new position in shares of Maravai LifeSciences during the 3rd quarter valued at $33,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Maravai LifeSciences in the 3rd quarter worth $33,000. Institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.