BNTX - RGA Investment Advisors - Maravai: Two Elite Assets With Other-Worldly Margins Wrapped In One

2024-06-11 21:30:00 ET

Summary

• We purchased Maravai shares early in Q3 2023, increased position as stock price dropped, similar to experience with META in 2022.
• Maravai's subsidiaries, TriLink and Cygnus, play critical roles in NAP and BS segments, with unique assets and capabilities.
• Maravai's strong margin structure, EBITDA performance, and potential for growth through mRNA applications and quality control testing make it a promising investment.

The following segment was excerpted from this fund letter.

Maravai LifeSciences Holdings, Inc. ( MRVI )

We first purchased shares of Maravai early in Q3 of 2023. Much like our experience with META in 2022, almost immediately following our first purchases, the stock's price tumbled. Given Maravai is a small cap, with a fairly illiquid float and volatile shares, we started our position on the smaller side. As the stock continued to stay weak, we used this as an opportunity to meaningfully increase our holding, much as we had done with META....

For further details see: