Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) was the target of some unusual options trading on Wednesday. Traders acquired 1,002 put options on the stock. This is an increase of 1,791% compared to the average daily volume of 53 put options.
Hedge Funds Weigh In On Maravai LifeSciences
A number of large investors have recently modified their holdings of MRVI. Select Equity Group L.P. raised its stake in shares of Maravai LifeSciences by 69.5% during the 4th quarter. Select Equity Group L.P. now owns 20,542,503 shares of the company’s stock worth $860,731,000 after buying an additional 8,420,492 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Maravai LifeSciences by 44.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,003,021 shares of the company’s stock worth $335,326,000 after buying an additional 2,459,692 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Maravai LifeSciences by 335.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,202,730 shares of the company’s stock worth $50,405,000 after buying an additional 926,730 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Maravai LifeSciences during the 1st quarter worth approximately $30,902,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Maravai LifeSciences during the 1st quarter worth approximately $21,785,000. 50.18% of the stock is owned by hedge funds and other institutional investors.
Maravai LifeSciences Stock Performance
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Shares of MRVI stock traded up $1.19 during trading hours on Thursday, reaching $27.57. 12,055 shares of the company’s stock were exchanged, compared to its average volume of 1,516,296. The company has a market cap of $7.04 billion, a P/E ratio of 15.70 and a beta of 0.53. The company’s 50 day moving average is $27.53 and its two-hundred day moving average is $31.57. Maravai LifeSciences has a 1 year low of $23.05 and a 1 year high of $63.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.75 and a quick ratio of 6.55.
Analyst Ratings Changes
MRVI has been the subject of several research reports. Morgan Stanley reduced their target price on Maravai LifeSciences from $49.00 to $35.00 and set an “overweight” rating for the company in a report on Monday. TheStreet downgraded Maravai LifeSciences from a “c-” rating to a “d+” rating in a research note on Tuesday, July 26th. The Goldman Sachs Group reduced their price objective on Maravai LifeSciences from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Finally, Robert W. Baird reduced their price objective on Maravai LifeSciences from $40.00 to $34.00 in a research note on Friday, August 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $43.20.
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 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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