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Billionaire Steve Cohen Makes Big Move on Dynavax Technologies Corp (DVAX) Stock

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Point72 Asset Management‘s stake in Dynavax Technologies Corp (NASDAQ:DVAX) has been raised according to a recent 13G filing with the Securities and Exchange Commission. Managed by billionaire Steve Cohen, the fund’s holding in the stock stood at 450,346 shares at the end of the second quarter, but has since climbed to 2.28 million shares or 5.9% of Dynavax Technologies’ common stock.

Dynavax Technologies is a clinical-stage biopharmaceutical company. Over the past 12 months, the company’s stock has lost 60.29%. For the second quarter of 2016, Dynavax Technologies reported a net loss of $29 million and a loss per share of $0.75, which compares to a net loss of $23.6 million and a loss per share of $0.80 for the corresponding quarter of 2015.


Hedge fund interest in Dynavax Technologies Corp (NASDAQ:DVAX) plummeted during the second quarter, as the number of long positions held by the funds in our system dropped to 23 as of the end of June, from 29 registered at the end of March. Some of the bullish smart money managers contained Glenn J. Krevlin’s Glenhill Advisors, which held a position valued at $18.79 million, Richard Mashaal’s RIMA Senvest Management, with a position worth $14.55 million, Kevin Kotler’s Broadfin Capital, Scott Scher and Michael Prober’s Clovis Capital Management, and Brian Ashford-Russell and Tim Woolley’s Polar Capital.

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Among the investors who lost enthusiasm for investing in Dynavax Technologies Corp (NASDAQ:DVAX) and sold off their positions during the quarter were Richard Driehaus’ Driehaus Capital, which said goodbye to a $2.92 million position, Paul Marshall and Ian Wace’s Marshall Wace LLP, which dumped its position valued at $929,000 at the end of March, Emmanuel Ferreira’s Convector Capital, John Overdeck and David Siegel’s Two Sigma Advisors, and Cliff Asness’ AQR Capital Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Point7 0 2,140,300 0 2,140,300 2,140,300 5.6%
Point7 0 2,140,300 0 2,140,300 2,140,300 5.6%
Cubist Systematic Strategies 0 10,308 0 10,308 10,308 Less than 0.1%
EverPoint Asset Management 0 130,000 0 130,000 130,000 0.3%
Steven A. Cohen 0 2,280,608 0 2,280,608 2,280,608 5.9%

Steve Cohen
Steve Cohen
Point72 Asset Management

Page 1 of 11 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. )*
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
September 29, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[   ]
Rule 13d-1(b)
Rule 13d-1(c)
[   ]
Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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