Billionaire Steve Cohen’s Point 72 Hedge Fund Takes 8.1% Stake in Cybin (MuggleHead.com)
Shares of Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) shot up by 38.5 per cent on Monday following news of billionaire Steve Cohen’s hedge fund taking an 8.1 per cent stake in the company. His firm Point 72 Asset Management now holds 18.95 million common shares of Cybin, a figure revealed in a United States Securities and Exchange Commission Schedule 13G form filing from Thursday. These forms are mandatory when buying more than 5 per cent of a public company’s shares in the U.S. and this is the first investment in a psychedelic medicine company made by the firm.
Odey Urged Woman He Groped at Work to Downplay Incident, FT Says (Bloomberg)
The latest woman to accuse Crispin Odey of sexual harassment said he groped her and later asked her to downplay the incident to the UK markets watchdog, according to the Financial Times. The woman, the 20th to come forward to the newspaper, said the financier assaulted her in Odey Asset Management’s Mayfair office one evening in 2005. After screaming at him, Odey apologized and left, she said.
Alternative Fund managers Turn to Third-Party Suppliers (Opalesque.com)
Alternative fund managers are increasingly turning to third-party suppliers to support their fund management business, with 96% planning on using external support over the next three years, said a study. The new research from Ocorian reveals the top three biggest concerns when it comes to switching providers, which is how quickly and accurately data can be migrated, the perception of investors and the market, and the impact this could have on the reporting cycle. Despite these concerns, almost one in four (23%) alternative fund managers are looking at switching fund administration providers over the next 18 months in some way.
Wednesday 9/20 Insider Buying Report: CNX, IRWD (Nasdaq.com)
On Monday, CNX Resources’, Bernard Lanigan Jr., made a $3.67M purchase of CNX, buying 172,830 shares at a cost of $21.25 each. So far Lanigan Jr. is in the green, up about 4.8% on their buy based on today’s trading high of $22.27. CNX Resources is trading up about 1.5% on the day Wednesday. Before this latest buy, Lanigan Jr. made one other purchase in the past twelve months, buying $2.10M shares at a cost of $15.24 a piece. And on Friday, SVP, Chief Financial Officer Sravan Kumar Emany purchased $300,119 worth of Ironwood Pharmaceuticals, purchasing 36,072 shares at a cost of $8.32 a piece. This buy marks the first one filed by Emany in the past year. Ironwood Pharmaceuticals is trading up about 0.4% on the day Wednesday. So far Emany is in the green, up about 12.5% on their purchase based on today’s trading high of $9.36.
Over $26M Bet On This Biotechnology Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Iovance Biotherapeutics: The Trade: Iovance Biotherapeutics Inc. (IOVA) Director Wayne P Rothbaum acquired a total of 5,000,000 shares an average price of $5.30. To acquire these shares, it cost around $26.5 million. ModivCare: The Trade: ModivCare Inc. (MODV) Director Adam Gray acquired a total of 330,216 shares at an average price of $32.76. To acquire these shares, it cost around $10.82 million.
