ClearBridge Investments, an investment management firm, published its “Mid Cap Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Strategy outperformed its Russell Midcap Index during the third quarter. On an absolute basis, the Strategy had gains across eight of the 11 sectors in which it was invested during the quarter. The leading contributors were the health care and financials sectors while consumer discretionary was the primary detractor. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
ClearBridge Mid Cap Strategy, in its Q3 2021 investor letter, mentioned Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) and discussed its stance on the firm. Maravai LifeSciences Holdings, Inc. is a California-based life sciences company with a $4.6 billion market capitalization. MRVI delivered a -15.39% return since the beginning of the year, while its 12-month returns are up by 31.30%. The stock closed at $35.45 per share on January 04, 2022.
Here is what ClearBridge Mid Cap Strategy has to say about Maravai LifeSciences Holdings, Inc. in its Q3 2021 investor letter:
“The Strategy’s health care holdings were also a positive contributor during the quarter. The need for vaccines and vaccine-manufacturing inputs were a catalyst for the biotechnology and research & development industries. For instance, Maravai LifeSciences produces the chemicals needed in the development and stabilization of Messenger RNA (mRNA) for a growing market of disease research and treatments – expected to produce recurring revenue at high margins. In addition to being financially beneficial, the company’s role in helping manufacture the COVID-19 vaccine has accelerated developments within non-COVID mRNA vaccines and therapeutics expected to come to market over the next decade.”
Based on our calculations, Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. MRVI was in 34 hedge fund portfolios at the end of the third quarter of 2021, compared to 20 funds in the previous quarter. Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) delivered a -17.40% return in the past 3 months.
You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.
Disclosure: None. This article is originally published at Insider Monkey.