Philosophy Capital Management LLC Purchases New Holdings in Maravai LifeSciences Holdings, Inc. $MRVI

Key Points

• Philosophy Capital Management LLC made a new investment of approximately $5.73 million in Maravai LifeSciences, acquiring over 2.5 million shares and representing about 1.02% ownership of the company.
• Several institutional investors, including Sherbrooke Park Advisers and EntryPoint Capital LLC, also purchased new positions in Maravai LifeSciences during recent quarters, indicating increasing institutional interest.
• Wall Street analysts have set a consensus rating of "Hold" for Maravai LifeSciences, with an average target price of $5.22, down from previous higher targets.

Philosophy Capital Management LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,593,268 shares of the company's stock, valued at approximately $5,731,000. Philosophy Capital Management LLC owned about 1.02% of Maravai LifeSciences as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. increased its position in Maravai LifeSciences by 437.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 493,582 shares of the company's stock worth $1,091,000 after buying an additional 401,673 shares during the last quarter. 12 West Capital Management LP increased its position in Maravai LifeSciences by 8.0% during the first quarter. 12 West Capital Management LP now owns 12,521,335 shares of the company's stock worth $27,672,000 after buying an additional 930,000 shares during the last quarter. Immersion Corp bought a new stake in shares of Maravai LifeSciences during the first quarter worth approximately $864,000. Vident Advisory LLC boosted its holdings in shares of Maravai LifeSciences by 289.5% during the first 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. Finally, Delta Investment Management LLC boosted its holdings in shares of Maravai LifeSciences by 33.2% during the first 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. Institutional investors and hedge funds own 50.25% of the company's stock.

Maravai LifeSciences Price Performance

Shares of MRVI stock traded up $0.13 during trading on Thursday, hitting $2.73. The company had a trading volume of 447,829 shares, compared to its average volume of 2,289,042. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.49 and a current ratio of 5.16. The firm has a market capitalization of $695.86 million, a P/E ratio of -2.00 and a beta of 0.29. The stock's 50-day moving average price is $2.49 and its 200 day moving average price is $2.35. Maravai LifeSciences Holdings, Inc. has a one year low of $1.66 and a one year high of $9.50.

Analysts Set New Price Targets

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

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.