ClearBridge Investments, an investment management firm, published its “Small Cap Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Strategy outperformed the Russell 2000 Index, the Strategy’s benchmark, during the fourth quarter. On an absolute basis, the Strategy posted gains in nine of 11 sectors in which it was invested for the quarter. The primary contributors to the Strategy’s performance were the financials, materials, and IT sectors. The communication services sector was the main detractor from performance. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Small Cap Strategy, in its Q4 2021 investor letter, mentioned Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) and discussed its stance on the firm. Founded in 2002, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is a New York, New York-based biopharmaceutical company with a $5.9 billion market capitalization, and is currently spearheaded by its CEO, Sharon Mates. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) delivered a 20.54% return since the beginning of the year, while its 12-month returns are up by 101.57%. The stock closed at $63.09 per share on April 04, 2022.
Here is what ClearBridge Investments Small Cap Strategy has to say about Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in its Q4 2021 investor letter:
“Intra-Cellular Therapies, in the health care sector, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases as well as other disorders of the central nervous system. Its share price rallied on the news it had received FDA approval for its new drug designed to help treat adults with bipolar depression, Caplyta. While the drug already received approval for its treatment in schizophrenia, the new approval greatly expands the market for the drug’s use and leads to significant growth potential in the company’s sales.”
Pressmaster/Shutterstock.com
Our calculations show that Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was in 19 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 20 funds in the previous quarter. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) delivered a 41.20% return in the past 3 months.
In March 2022, we also shared another hedge fund’s views on Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
