Harvard University Stock Portfolio: Top 5 Picks

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In this article, we discuss the top 5 picks of the Harvard University stock portfolio. If you want to see more stocks in this selection, check out Harvard University Stock Portfolio: Top 10 Picks

5. EQRx, Inc. (NASDAQ:EQRX)

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

Number of Hedge Fund Holders: 26

EQRx, Inc. (NASDAQ:EQRX) is a Massachusetts-based pharmaceutical company, specializing in developing medicines for oncology and immune-inflammatory diseases in the United States. Securities filings for Q2 2022 reveal that Harvard University stock portfolio held 5.2 million shares of EQRx, Inc. (NASDAQ:EQRX) worth $24.6 million.

On August 16, JPMorgan analyst Chris Schott initiated coverage of EQRx, Inc. (NASDAQ:EQRX) with a Neutral rating and a $5.50 price target. EQRx, Inc. (NASDAQ:EQRX) wants to deliver new medicines to patients at “radically lower prices” by targeting known mechanisms of action and collaborating with payers to increase usage, the analyst noted. While the company’s goals “clearly address a significant unmet need in the drug space,” he believes the business model is still at a relatively early stage of development and there are many unknowns that are unlikely to be addressed in the short-term, the analyst told investors.

According to Insider Monkey’s data, 26 hedge funds were long EQRx, Inc. (NASDAQ:EQRX) at the end of the second quarter of 2022, compared to 38 funds in the preceding quarter. 

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