market folly

Andreas Halvorsen's hedge fund firm Viking Global filed a 13G with the SEC regarding their stake in Illumina (ILMN).  Per the filing, Viking has disclosed a 5.5% ownership stake in Illumina with over 7.1 million shares.

This marks an increase of over 5.4 million shares since the end of 2013.  The filing was made due to activity on February 28th.  Since the beginning of 2014, ILMN shares have spiked higher from $110 to $167 currently.

For more on this manager, check out a rare interview with Andreas Halvorsen on investment process.

Per Google Finance, Illumina is "a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function. The Company provides a line of genetic analysis solutions, with products and services that serve a range of interconnected markets, including sequencing, genotyping, gene expression, and molecular diagnostics. The Company is organized in two business segments: Life Sciences and Diagnostics. Its Life Sciences business unit includes all products and services related to the research market, namely the product lines based on its sequencing, BeadArray, VeraCode, and real-time PCR technologies. Its Diagnostics business unit focuses on molecular diagnostics. In February 2014, Illumina, Inc. announced that Novogene purchased one HiSeq X Ten. In March 2014, WuXi Genome Center has purchased Illumina HiSeq X Ten sequencing system."