What Makes Moderna (MRNA) an Attractive Investment?

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the fourth quarter. On an absolute basis, the strategy gained across nine of the 10 sectors in which it was invested. Industrials, consumer staples, and healthcare sectors were the leading contributors while the IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Select Strategy highlighted stocks like Moderna, Inc. (NASDAQ:MRNA) in the Q4 2022 investor letter. Headquartered in Cambridge, Massachusetts, Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company. On February 22, 2023, Moderna, Inc. (NASDAQ:MRNA) stock closed at $158.17 per share. One-month return of Moderna, Inc. (NASDAQ:MRNA) was -18.08%, and its shares gained 16.53% of their value over the last 52 weeks. Moderna, Inc. (NASDAQ:MRNA) has a market capitalization of $60.766 billion.

ClearBridge Select Strategy made the following comment about Moderna, Inc. (NASDAQ:MRNA) in its Q4 2022 investor letter:

“Moderna, Inc. (NASDAQ:MRNA) became a household name during the pandemic as one of the first developers of a COVID-19 vaccine. But the stock sold off sharply as COVID momentum, including high expectations for booster shots, began to wear off, causing investors to slash its fiscal 2023 earnings estimates by two-thirds over the last year. We believe those downward revisions clouded the prospects for the company’s fully funded pipeline of platform opportunities, including cancer, RSV and flu. The cash-rich company also recently expanded its partnership with Merck to improve cancer treatments.”

Photo by National Cancer Institute on Unsplash

Moderna, Inc. (NASDAQ:MRNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Moderna, Inc. (NASDAQ:MRNA) at the end of the fourth quarter which was 44 in the previous quarter.

We discussed Moderna, Inc. (NASDAQ:MRNA) in another article and shared the list of most profitable pharmaceutical stocks. 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.