ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark, the Russell 2000 Growth Index, declining about 1%. Overall stock selection and sector allocation drove the strategy to underperform in the quarter. The healthcare sector was the primary performance detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like Certara, Inc. (NASDAQ:CERT) in its Q3 2022 investor letter. Headquartered in Princeton, New Jersey, Certara, Inc. (NASDAQ:CERT) is a software products and technology-enabled services provider for biosimulation. On November 23, 2022, Certara, Inc. (NASDAQ:CERT) stock closed at $16.49 per share. One-month return of Certara, Inc. (NASDAQ:CERT) was 32.34%, and its shares lost 42.14% of their value over the last 52 weeks. Certara, Inc. (NASDAQ:CERT) has a market capitalization of $2.633 billion.
ClearBridge Investments made the following comment about Certara, Inc. (NASDAQ:CERT) in its Q3 2022 investor letter:
“Our holdings in the health care sector proved the primary performance detractors during the quarter. Certara, Inc. (NASDAQ:CERT)), a provider of biosimulation and regulatory services to life sciences companies, suffered from execution issues in its smaller regulatory services division which brought down earnings guidance as well as a subsequent secondary sale by legacy private equity shareholders.”
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Certara, Inc. (NASDAQ:CERT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Certara, Inc. (NASDAQ:CERT) at the end of the third quarter, which was 10 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.