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Steven Cohen Homes In On Otonomy

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Guru ups bet in biotech focused on ear-related disorders Continue reading...: Steven Cohen (Trades, Portfolio), head of Point72 Asset Management, disclosed this week his firm upped its stake in Otonomy Inc. (NASDAQ:OTIC) by 1,354.75%. With the goal of generating superior risk-adjusted returns, the billionaire guru's Stamford, Connecticut-based firm executes a long-short strategy that involves fundamental, bottom-up research processes, macro investments and insights. According to GuruFocus Real-Time Picks, a Premium feature, Cohen picked up an additional 2.7 million shares of the San Diego-based biopharmaceutical company on July 13.

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