Billionaire Steven Cohen Invests Heavily In These Two Penny Stocks.

Billionaire Steven Cohen has long been among Wall Street’s most successful traders and investors. In addition, Cohen has earned a reputation as a Wall Street expert because of his consistently high returns to investors.

The billionaire hedge fund manager, Steve Cohen, is known as the “King of Hedge Funds.” Known for his long-term investment strategy and meticulous research, Cohen turned a $1 million investment into over 10 billion in 22 years.

Steven Cohen, the billionaire founder of SAC Capital Advisors and Columbia University graduate, is known for his investing prowess. He’s one of the most successful investors in history. Cohen has a net worth of $16 billion and an estimated annual income of over $2 billion.

One thing that’s been on his radar lately is penny stocks. As with many other stocks, there are high prices and low prices for penny stocks.

One company that recently caught his eye was X4 Pharmaceuticals (NASDAQ: XFOR). X4 is a biopharmaceutical business in the late stages of development. Primary immunodeficiency problems are the focus of this company’s efforts on novel orally dosed treatments.

Cohen is one of the many healthcare industry insiders excited about this new brand. As a first-time buyer of X4, Point72 acquired more than 1.6 million shares in the fourth quarter. Over $2.4 million is the value of the company’s latest acquisition.

Analysts recommend a “Strong Buy” for this stock. Just $1.50 per share, yet the average price prediction of $17.25 suggests a 1,050 percent increase in value over the next year.

The second stock he has been interested in is Harpoon Therapeutics (NASDAQ: HARP).

Harpoon Therapeutics, a biopharmaceutical business, will be subject to our second stock analysis. Therapeutics for cancer therapy is the focus of Harpoon, which is developing T cell-based medicines for use in clinical trials.

It’s no surprise that Harpoon attracted an investor of Steve Cohen’s caliber with such a busy pipeline. In the fourth quarter, Cohen’s Point72 invested $2.66 million to acquire 650,000 shares.

An analyst at Trust has assigned HARP a Buy rating with a $16 price target, which represents a 290 percent growth rate over the next year. HARP is now trading at $11.50.