market folly

Steve Cohen's hedge fund SAC Capital just filed a 13G with the SEC regarding shares of Dynavax Technologies (DVAX).

The hedge fund has boosted its holdings by 831,731 shares, almost a 12% increase in their position size since the end of 2011.

SAC Capital now owns 7,856,130 shares of DVAX which is a 5.1% ownership stake in the company. The SEC filing was made due to trading activity on February 22nd. You can also see some of SAC's other recent portfolio activity here.

Per Google Finance, Dynavax Technologies is "a biopharmaceutical company that discovers and develops products to prevent and treat infectious diseases, asthma and inflammatory and autoimmune diseases. The Company’s principal product candidate is HEPLISAV, a Phase III investigational adult hepatitis B vaccine. Its pipeline of product candidate includes HEPLISAV; its Universal Flu vaccine; clinical-stage programs for hepatitis C and hepatitis B therapies, and preclinical programs partnered with AstraZeneca and GlaxoSmithKline (GSK)."

SAC Capital was recently named one of the top 10 hedge funds by net gains since inception.