Ginkgo Bioworks (NYSE:DNA) Trading Down 9.3% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were down 9.3% during mid-day trading on Monday . The stock traded as low as $9.74 and last traded at $9.81. Approximately 996,717 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,666,032 shares. The stock had previously closed at $10.82.

Ginkgo Bioworks Stock Performance

The firm’s 50 day moving average price is $11.48. The stock has a market capitalization of $611.82 million, a PE ratio of -0.81 and a beta of 1.16.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Ginkgo Bioworks during the fourth quarter worth $29,000. KBC Group NV bought a new position in shares of Ginkgo Bioworks in the fourth quarter valued at $31,000. KLP Kapitalforvaltning AS acquired a new position in shares of Ginkgo Bioworks during the 4th quarter worth about $46,000. Mercer Global Advisors Inc. ADV bought a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $116,000. Finally, Palumbo Wealth Management LLC bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $144,000. 78.63% of the stock is owned by institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.