Activist Investors Make Moves on Masimo and Vera Therapeutics
Masimo, a leading monitoring-technology company, is seeing action from activist investors. Politan Capital has disclosed an 8.9% interest in Masimo, making them one of the top-five shareholders in the company. Politan Capital recently submitted two candidates for election to Masimo’s board, Michelle Brennan and founder Quentin Koffey, who were subsequently elected as directors. According to Koffey, this vote signifies a mandate from shareholders that significant change is needed. Masimo’s stock has risen about 7% year-to-date.
Meanwhile, pharmaceutical company Vera Therapeutics saw a decrease in holdings from Carlyle Group. Carlyle subsidiary Abingworth Bioventures 8 LP sold 543,394 Vera Therapeutics shares, reducing Carlyle Group’s position to a 5.5% stake in the company. Despite this decrease, Vera Therapeutics’ stock has more than doubled over the past three months due to positive phase 2b trial results for its Berger disease treatment.
Specialty building-products distributor GMS also experienced a decrease in holdings. Coliseum Capital sold 1.56 million GMS shares, lowering their stake to 8.4% of the company’s outstanding stock. However, GMS recently reported record levels of net sales, net income, adjusted EBITDA, and cash-flow generation for the fiscal year ended April 30.
Chinese biopharmaceutical company I-Mab saw a reduction in holding from HHLR Advisors. HHLR sold 45,222 I-Mab American depositary shares, resulting in an 8.3% interest in the company. I-Mab’s stock has declined by over a third this year.
Finally, Gamco Investors decreased its position in industrial hardware maker Mueller Industries. Gamco Investors sold 326,706 Mueller Industries shares, leaving them with a 6.1% stake in the company. Mueller Industries saw mixed activity from Gamco Investors, with both selling and purchasing shares over the past couple of months.
These actions by activist investors highlight their interest in influencing the direction and decision-making of the companies they invest in. Shareholders will be keenly watching to see how these moves impact the future trajectory of Masimo, Vera Therapeutics, GMS, I-Mab, and Mueller Industries.
