ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2000 Value Index. On an absolute basis, the strategy gained in nine out of eleven sectors it was invested in during the quarter. Industrials, financials, and consumer discretionary sectors were the leading contributors while the healthcare sector was the primary detractor. Overall, stock selection and sector allocation contributed to the relative performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Small Cap Value Strategy highlighted stocks like Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the fourth quarter 2022 investor letter. Headquartered in San Diego, California, Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) is a life sciences company. On March 8, 2023, Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) stock closed at $15.57 per share. One-month return of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was 10.98%, and its shares lost 59.92% of their value over the last 52 weeks. Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has a market capitalization of $3.977 billion.
ClearBridge Small Cap Value Strategy made the following comment about Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in its Q4 2022 investor letter:
“Another detractor during the period was Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI), which provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases. The company continues to face headwinds from both investor skepticism over the loss of its COVID-19 revenue and continued supply chain disruptions in the company’s bioprocessing consumables division, which weighed on the stock’s performance. We believe the value of the company’s nucleic acids business has been overly discounted relative to its long-term potential, and that the company’s position as a leading supplier to the growing field of mRNA vaccine research and development leaves it well positioned to be a long-term compounder within the portfolio.”
Photo by National Cancer Institute on Unsplash
Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) at the end of the fourth quarter which was 20 in the previous quarter.
We discussed Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in another article and shared the list of most undervalued healthcare stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
