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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Steve Cohen's Point72 Buys $20M of Surging Biotech Stock That Recently Priced $125M Offering to Advance Myeloma Treatment

Cohen founded Point72 Asset Management. (Photo: Point72)

New York Mets owner and billionaire investor Steven Cohen is known for a high-risk/reward investing approach. He founded the now-defunct SAC Capital Advisors, which was among the most successful hedge funds. He later founded Point72 Asset Management.

Cohen, who has a net worth of $23 billion (£17.2 billion), steered his Point72 Asset Management hedge fund to massive profits in the past three years, significantly outperforming the S&P 500 index.

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