Jacobs Levy Equity Management Inc. Grows Stock Position in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its holdings in Maravai LifeSciences by 437.0% during the first quarter, acquiring an additional 401,673 shares.
• Analysts remain cautious, with Royal Bank of Canada lowering the price target for Maravai LifeSciences from $7.00 to $5.00, while the company holds a consensus rating of "Hold".
• As of now, institutional investors own over 50% of Maravai LifeSciences' stock, reflecting significant confidence in the company despite recent stock performance volatility.

Jacobs Levy Equity Management Inc. raised its position in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 437.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,582 shares of the company's stock after acquiring an additional 401,673 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.19% of Maravai LifeSciences worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. 12 West Capital Management LP raised its holdings in Maravai LifeSciences by 8.0% during the 1st quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company's stock valued at $27,672,000 after buying an additional 930,000 shares during the period. Immersion Corp purchased a new stake in Maravai LifeSciences during the 1st quarter valued at $864,000. Vident Advisory LLC raised its holdings in Maravai LifeSciences by 289.5% during the 1st quarter. Vident Advisory LLC now owns 110,567 shares of the company's stock valued at $244,000 after buying an additional 82,182 shares during the period. Delta Investment Management LLC raised its holdings in Maravai LifeSciences by 33.2% during the 1st quarter. Delta Investment Management LLC now owns 443,689 shares of the company's stock valued at $981,000 after buying an additional 110,696 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Maravai LifeSciences during the 1st quarter valued at $511,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada decreased their price target on Maravai LifeSciences from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.22.

Maravai LifeSciences Stock Down 2.8%

MRVI stock traded down $0.08 during trading on Wednesday, reaching $2.81. 1,610,158 shares of the company traded hands, compared to its average volume of 913,382. Maravai LifeSciences Holdings, Inc. has a 12 month low of $1.66 and a 12 month high of $9.50. The business has a 50 day simple moving average of $2.50 and a 200 day simple moving average of $2.33. The company has a market capitalization of $717.56 million, a price-to-earnings ratio of -2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.49 and a current ratio of 5.16.

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.