In this article, we will look at Harvard University’s latest stock portfolio and list its 5 best biotech stock picks. If you want to explore more biotech stocks that make up the top holdings of Harvard Management, you can also read Harvard University’s Latest Portfolio: 10 Best Biotech Stock Picks.
5. Relay Therapeutics, Inc. (NASDAQ:RLAY)
Harvard Management’s Stake Value: $9,064,000
Percentage of Harvard Management’s 13F Portfolio: 1.04%
Number of Hedge Fund Holders: 17
Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicines company that develops small molecule therapies for the treatment of cancer. As of September 14, Relay Therapeutics, Inc. (NASDAQ:RLAY) has gained 4.58% over the past six months.
Wall Street is bullish on Relay Therapeutics, Inc. (NASDAQ:RLAY). On September 12, H.C. Wainwright analyst Robert Burns raised his price target on Relay Therapeutics, Inc. (NASDAQ:RLAY) to $50 from $46 and reiterated a Buy rating on the shares. On September 14, JMP Securities analyst Silvan Tuerkcan raised his price target on Relay Therapeutics, Inc. (NASDAQ:RLAY) to $38 from $35 and maintained a buy-side Outperform rating on the shares.
At the close of Q2 2022, 17 hedge funds were bullish on Relay Therapeutics, Inc. (NASDAQ:RLAY) and held stakes worth $349.35 million in the company. As of June 30, Harvard Management Company’s stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) is valued at $9.06 million, which covers 1.04% of the fund’s 13F portfolio.
4. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)
Harvard Management’s Stake Value: $12,285,000
Percentage of Harvard Management’s 13F Portfolio: 1.42%
Number of Hedge Fund Holders: 17
Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a clinical-stage biotechnology company that is involved in decoding biology and screening drugs to arrange them in a way that can aid the efficient treatment of rare genetic diseases. As of June 30, Harvard Management Company owns roughly 1.5 million shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), which amounts to a stake of $12.28 million.
On September 13, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) initiated two new clinical trials, bringing its 2022 total to now three Phase 2 studies and one Phase 1 study.
On August 9, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) announced earnings for the second quarter of fiscal 2022. The company generated a revenue of $7.6 million, up 201% year over year, and beat estimates by $2.27 million. As of September 14, the stock has surged 115.5% over the past six months.
At the end of Q2 2022, 17 hedge funds were long Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) and held stakes worth $174.4 million in the company. This is compared to 20 positions in Q1 2022, with stakes worth $117.9 million.
3. Revolution Medicines, Inc. (NASDAQ:RVMD)
Harvard Management’s Stake Value: $13,066,000
Percentage of Harvard Management’s 13F Portfolio: 1.51%
Number of Hedge Fund Holders: 20
Revolution Medicines, Inc. (NASDAQ:RVMD) is a clinical-stage oncology company that develops therapies for RAS-addicted cancers. At the close of Q2 2022, 20 hedge funds were bullish on Revolution Medicines, Inc. (NASDAQ:RVMD) and held stakes worth $369.7 million in the company.
On August 9, Revolution Medicines, Inc. (NASDAQ:RVMD) announced earnings for the second quarter of fiscal 2022. The company reported a revenue of $9.12 million, up 4.8% year over year, and beat Wall Street estimates by $2.1 million. As of September 14, Revolutions Medicines, Inc. (NASDAQ:RVMD) has gained 8.4% over the past six months.
On August 17, H.C. Wainwright analyst Robert Burns revised his price target on Revolution Medicines, Inc. (NASDAQ:RVMD) to $37 from $40 and maintained a Buy rating on the shares.
As of June 30, Harvard Management Company owns 0.67 million shares of Revolution Medicines, Inc. (NASDAQ:RVMD), which amounts to a stake of $13 million. The investment covers 1.51% of the fund’s 13F portfolio.
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.
1. AbCellera Biologics Inc. (NASDAQ:ABCL)
Harvard Management’s Stake Value: $43,719,000
Percentage of Harvard Management’s 13F Portfolio: 5.06%
Number of Hedge Fund Holders: 17
AbCellera Biologics Inc. (NASDAQ:ABCL) is a biotechnology company that develops human antibodies by leveraging technological advancements in artificial intelligence and machine learning. On August 9, AbCellera Biologics Inc. (NASDAQ:ABCL) announced earnings for the second quarter of fiscal 2022. The company grew its revenue by 66% year over year and generated a revenue of $45.9 million for the quarter.
As of September 14, AbCellera Biologics Inc. (NASDAQ:ABCL) has gained 39.5% over the past six months.
On August 10, Credit Suisse analyst Tiago Fauth revised his price target on AbCellera Biologics Inc. (NASDAQ:ABCL) to $34 from $40 and reiterated a buy-side Outperform rating on the shares.
At the end of Q2 2022, 17 hedge funds were bullish on AbCellera Biologics Inc. (NASDAQ:ABCL) and held stakes worth roughly $320.5 million in the company. This is compared to 17 positions in the previous quarter with stakes worth $329 million.
As of June 30, Harvard Management Company owns more than 4 million shares of AbCellera Biologics Inc. (NASDAQ:ABCL). The fund’s stakes are valued at $43.7 million in the company.
You can also take a look at 10 Best Biotech Penny Stocks To Buy and 11 Best Pharma and Biotech Stocks to Buy.
