Stock traders buy high volume of Maravai LifeSciences put options (NASDAQ: MRVI)
Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) was the recipient of some unusual options trades on Wednesday. Investors bought 1,002 put options on the company. This is an increase of approximately 1,791% from the average daily volume of 53 put options.
The MRVI has been the subject of several research reports. Robert W. Baird reduced his price target on Maravai LifeSciences from $48.00 to $40.00 in a Friday, May 6 research note. Morgan Stanley lowered its target price on Maravai LifeSciences from $59.00 to $54.00 and set an “overweight” rating on the stock in a Friday, February 25 report.
NASDAQ: MRVI was down $1.08 during Thursday trading hours, hitting $25.73. The stock recorded trading volume of 14,573 shares, compared to an average trading volume of 1,934,326 shares. The company has a debt ratio of 0.80, a quick ratio of 6.55 and a current ratio of 7.14. The stock has a 50-day simple moving average of $32.42 and a 200-day simple moving average of $34.62. Maravai LifeSciences has a 12 month minimum of $23.16 and a 12 month maximum of $63.55. The stock has a market capitalization of $6.57 billion, a P/E ratio of 16.86 and a beta of 0.76.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last reported results on Thursday, May 5. The company reported EPS of $0.54 for the quarter, beating the consensus estimate of $0.43 by $0.11. Maravai LifeSciences achieved a return on equity of 96.51% and a net margin of 25.25%. The company posted revenue of $244.30 million in the quarter, compared to $232.29 million expected by analysts. In the same period a year earlier, the company earned $0.26 per share. The company’s revenue increased 64.8% year over year. On average, stock analysts expect Maravai LifeSciences to post earnings per share of 1.85 for the current fiscal year.
A number of hedge funds have recently increased or reduced their holdings in the stock. Select Equity Group LP increased its stake in Maravai LifeSciences by 69.5% in Q4. Select Equity Group LP now owns 20,542,503 shares of the company worth $860,731,000 after purchasing an additional 8,420,492 shares during the period. Massachusetts Financial Services Co. MA increased its holdings of Maravai LifeSciences shares by 44.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,003,021 shares of the company valued at $335,326,000 after purchasing an additional 2,459,692 shares in the last quarter. BlackRock Inc. increased its position in Maravai LifeSciences by 30.7% during the fourth quarter. BlackRock Inc. now owns 6,053,047 shares of the company valued at $253,622,000 after purchasing an additional 1,420,288 shares during the period. Ardevora Asset Management LLP acquired a new position in Maravai LifeSciences during the fourth quarter worth $59,130,000. Finally, Norges Bank acquired a new position in shares of Maravai LifeSciences in the fourth quarter worth approximately $39,039,000. 50.18% of the shares are currently held by institutional investors and hedge funds.
About Maravai LifeSciences (Get a rating)
Maravai LifeSciences Holdings, Inc., a life sciences company, provides products that enable the development of drug therapies, diagnostics, new vaccines, and supports research into human diseases in the United States and around the world. The Company’s products address key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products for detecting impurities in the production of biopharmaceuticals, and products for detecting expression protein in the tissues of various species.
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