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

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.