The official second quarter portfolio update for Steven Cohen (Trades, Portfolio), owner of Point72 Asset Management, has not been released as of July 20. Buys made that were greater than 5% of the company are available, however. The GuruFocus real time updates indicate Cohen purchased shares in Cynosure Inc. (CYNO), Pernix Therapeutics (PTX, Financial), Tesaro Inc. (TSRO, Financial) and Tetra Technologies (TTI) over the course of the second quarter. These purchases were made April 25, April 28, May 9, and June 27, respectively.Ă‚
The shares purchased in Tesaro sold for an average price of $43, and Cohen purchased 1 million shares. Tesaro, an oncology-focused biopharmaceutical company based in Massachusetts, has a market cap of $4 billion with an enterprise value of $3.9 billion. It has a P/B of 25 and a P/S of 5,952. GuruFocus rated its financial strength 5 of 10 and its profitability and growth 3 of 10. It's impact on Cohen's portfolio is 0.35%. Cohen’s current number of shares with Tesaro stands at 2.4 million.
In contrast, purchases in Pernix Therapeutics had a significantly lower impact on Cohen’s portfolio at 0.01%. In April, Cohen purchased 1.2 million shares for 78 cents per share. Pernix, a pharmaceutical company headquartered in New Jersey, has a market cap of $31.1 million with an enterprise value of $298.5 million. It has a P/B of 3.62 and a P/S of 0.17. GuruFocus rated its financial strength 3 of 10 and its profitability and growth 5 of 10.
Cohen, who founded SAC Capital Advisors prior to Point72, is worth $13 million. As of March 31st, Cohen’s top holdings are with Facebook (FB), Google (GOOGL) and Netflix (NFLX).
With the new quarter barely underway, Cohen has purchased (as of July 17) shares with Alon USA Energy Inc. (ALJ, Financial), purchasing 2.3 million shares at an average price of $7 per share. This increases Cohen’s number of shares to 3.4 million. He has been investing in Alon since 2011.
Alon USA is an independent refiner and marketer of petroleum products headquartered in Dallas, TX. Alon has a market cap of $486 million with an enterprise value of $909 million. It has a P/E of 25.99, a P/B of 0.81 and a P/S of 0.11. GuruFocus ranked its financial strength 6 of 10 and its profitability and growth 4 of 10. This transaction had an impact of 0.12% on Cohen’s portfolio.
All of his second quarter buys will be available when his portfolio is released.Ă‚
