Immersion Corp Purchases New Position 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 Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 390,836 shares of the company's stock, valued at approximately $864,000. Maravai LifeSciences makes up about 0.5% of Immersion Corp's portfolio, making the stock its 8th biggest holding. Immersion Corp owned approximately 0.15% of Maravai LifeSciences as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in Maravai LifeSciences in the first quarter valued at about $32,000. Teacher Retirement System of Texas acquired a new stake in Maravai LifeSciences in the 1st quarter valued at approximately $37,000. Aigen Investment Management LP bought a new stake in Maravai LifeSciences during the first quarter worth about $37,000. Performa Ltd US LLC grew its holdings in Maravai LifeSciences by 245.0% during the first quarter. Performa Ltd US LLC now owns 17,250 shares of the company's stock worth $38,000 after purchasing an additional 12,250 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new stake in Maravai LifeSciences in the 1st quarter valued at about $55,000. 50.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Maravai LifeSciences Stock Up 4.4%

MRVI stock traded up $0.11 during trading on Friday, hitting $2.47. 842,642 shares of the stock traded hands, compared to its average volume of 2,315,435. Maravai LifeSciences Holdings, Inc. has a 1 year low of $1.66 and a 1 year high of $9.60. The firm's 50 day moving average is $2.49 and its two-hundred day moving average is $2.39. The stock has a market cap of $629.46 million, a price-to-earnings ratio of -1.81 and a beta of 0.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.16 and a quick ratio of 4.49.

Maravai LifeSciences 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.