Immersion Corp Makes New Investment in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Immersion Corp has acquired 390,836 shares of Maravai LifeSciences Holdings, valued at approximately $864,000, making it the firm's 8th largest position.
• Several institutional investors increased their stakes in Maravai LifeSciences, with Alyeska Investment Group boosting its holdings by 145.8% to over 5 million shares.
• Research analysts have updated their price targets for Maravai LifeSciences, with three giving it a "Buy" rating and an average target price of $5.22, reflecting cautious optimism amid recent cuts.

Immersion Corp purchased a new position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 390,836 shares of the company's stock, valued at approximately $864,000. Maravai LifeSciences comprises 0.5% of Immersion Corp's holdings, making the stock its 8th biggest holding. Immersion Corp owned about 0.15% of Maravai LifeSciences as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vident Advisory LLC lifted its position in Maravai LifeSciences by 289.5% during the 1st quarter. Vident Advisory LLC now owns 110,567 shares of the company's stock worth $244,000 after acquiring an additional 82,182 shares during the period. Delta Investment Management LLC lifted its position in Maravai LifeSciences by 33.2% during the 1st quarter. Delta Investment Management LLC now owns 443,689 shares of the company's stock worth $981,000 after acquiring an additional 110,696 shares during the period. Walleye Capital LLC acquired a new stake in Maravai LifeSciences during the 1st quarter worth approximately $511,000. EntryPoint Capital LLC acquired a new stake in Maravai LifeSciences during the 1st quarter worth approximately $32,000. Finally, Tejara Capital Ltd acquired a new stake in Maravai LifeSciences during the 1st quarter worth approximately $1,199,000. Hedge funds and other institutional investors own 50.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Craig Hallum reduced their price target on Maravai LifeSciences from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada dropped their price target on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Finally, Robert W. Baird lowered their price objective on Maravai LifeSciences from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.22.

Maravai LifeSciences Price Performance

MRVI stock remained flat at $2.36 on Thursday. The company had a trading volume of 529,505 shares, compared to its average volume of 2,324,246. The business has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $2.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.16 and a quick ratio of 4.49. The company has a market capitalization of $602.65 million, a P/E ratio of -1.74 and a beta of 0.29. Maravai LifeSciences Holdings, Inc. has a 1-year low of $1.66 and a 1-year high of $9.60.

Maravai LifeSciences Company Profile

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.