Mariner Research

all ideas are our opinions and are not investment advice or offers to transact in securities - do your own work

[Mariner Research @MarinerResearch]

If the fed govt is serious about fighting waste and abuse, $THC is a perfect place to go looking - HHS OIG has already been poking around on outliers - https://t.co/zlTOxOTpZP

Further scrutiny may hit earnings growth - not a good look for a levered stock that's run so much

[Mariner Research @MarinerResearch]

We haven't been active for a while, but this report caught our eye - it hasn't gotten the attention it deserves.

[FuzzyPanda @FuzzyPandaShort]

We’re short Tenet Healthcare $THC:

Data indicates Tenet overcharged Medicare - Est $675-$845m in fines

In 2002, $THC fell 70% after a fraud scandal and $900m in fines. This time, Medicare reimbursement is just the beginning

Oops! The “Notorious” $THC Did It Again?!?

[Mariner Research @MarinerResearch]

In light of these dynamics, we do not believe that $REKR will do more than $10MM in revenue in 2021. At the highest peer multiple of 6.7x revenue, this results in a target price of $3.71, down ~68% from current levels

[Mariner Research @MarinerResearch]

We just published a report on Rekor Systems ($REKR) - a few weeks ago, $REKR’s stock fell almost 30% when investors supposedly heard that $REKR’s Texas ALPR bill was unlikely to pass this session

https://t.co/juNix4bL3G

[Mariner Research @MarinerResearch]

Auditor Friedman has had numerous audit deficiencies related to revenue and AR

[Mariner Research @MarinerResearch]

We believe that the efficacy issues are unlikely to lead to significant penetration, and we also believe that the disclosure and execution issues are symbolic of poor corporate culture and process. We assign a $16 price target to YMAB stock, down ~55% from current levels.

[Mariner Research @MarinerResearch]

This morning, we published a piece on YMAB, a biotech focused on pediatric oncology.

https://t.co/scFFB5iZum

Before delving into our thesis, we would like to highlight something that we believe to be in the public interest

[Mariner Research @MarinerResearch]

As YMAB’s stock rallied from 2019 onwards, Gad has been a regular seller of stock; he has sold ~50% of his direct holdings in YMAB, netting approximately $27.8MM in proceeds