Harvard University’s Latest Portfolio: 5 Best Biotech Stock Picks

2. EQRx, Inc. (NASDAQ:EQRX)

Harvard Management’s Stake Value: $24,680,000 

Percentage of Harvard Management’s 13F Portfolio: 2.85%

Number of Hedge Fund Holders: 26

EQRx, Inc. (NASDAQ:EQRX) is involved in the development and discovery of therapies for the treatment of oncology and immune-inflammatory diseases in the United States. As of June 30, Harvard Management Company’s stake in EQRx, Inc. (NASDAQ:EQRX) is valued at $24.6 million, and the investment accounts for 2.85% of the fund’s portfolio.

On August 11, EQRx, Inc. (NASDAQ:EQRX) announced that its cash, cash equivalents, and investments amounted to $1.6 billion as of June 30, 2022. The company said that it will maintain its cash resources to finance its operations into 2025.

On August 16, JPMorgan analyst Chris Schott initiated coverage of EQRx, Inc. (NASDAQ:EQRX) with a Neutral rating and a $5.50 price target. Shares of EQRx, Inc. (NASDAQ:EQRX) have gained 35.5% over the past six months, as of September 14.

At the close of Q2 2022, 26 hedge funds were eager on EQRx, Inc. (NASDAQ:EQRX) and held stakes worth $355.5 million in the company.