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

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) saw some unusual options trading on Wednesday. Investors acquired 1,002 put options on the stock. This represents an increase of 1,791% compared to the average volume of 53 put options.

Several hedge funds and other institutional investors have recently bought and sold shares of MRVI. Morgan Stanley lifted its position in shares of Maravai LifeSciences by 35.8% during the second quarter. Morgan Stanley now owns 1,911,878 shares of the company’s stock worth $79,783,000 after purchasing an additional 504,083 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Maravai LifeSciences during the third quarter worth $253,000. New York State Common Retirement Fund lifted its position in shares of Maravai LifeSciences by 38.6% during the third quarter. New York State Common Retirement Fund now owns 116,133 shares of the company’s stock worth $5,700,000 after purchasing an additional 32,333 shares in the last quarter. Raymond James & Associates lifted its position in shares of Maravai LifeSciences by 4.5% during the third quarter. Raymond James & Associates now owns 10,959 shares of the company’s stock worth $538,000 after purchasing an additional 469 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Maravai LifeSciences by 39.3% during the third quarter. Treasurer of the State of North Carolina now owns 36,579 shares of the company’s stock worth $1,795,000 after purchasing an additional 10,319 shares in the last quarter. 50.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MRVI opened at $30.51 on Thursday. The company has a market cap of $7.78 billion, a PE ratio of 22.94 and a beta of 0.76. Maravai LifeSciences has a 12 month low of $23.16 and a 12 month high of $63.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 7.89 and a quick ratio of 7.34. The company has a 50-day simple moving average of $36.18 and a 200-day simple moving average of $36.32.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last released its earnings results on Wednesday, February 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The firm had revenue of $228.44 million during the quarter, compared to the consensus estimate of $208.09 million. Maravai LifeSciences had a net margin of 22.83% and a return on equity of 105.25%. Maravai LifeSciences’s revenue was up 132.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. On average, analysts anticipate that Maravai LifeSciences will post 1.76 EPS for the current year.

Several research analysts have weighed in on the company. Robert W. Baird lowered their target price on Maravai LifeSciences from $60.00 to $48.00 in a research note on Thursday, February 24th. Zacks Investment Research downgraded Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Morgan Stanley lowered their target price on Maravai LifeSciences from $59.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $49.20.

About Maravai LifeSciences (Get Rating)

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 in the United States and internationally. 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.

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