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

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.