Ginkgo Bioworks (NYSE:DNA) Trading Down 5.4% – What’s Next?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) fell 5.4% on Wednesday . The company traded as low as $11.21 and last traded at $11.72. 649,797 shares were traded during trading, a decline of 58% from the average session volume of 1,534,823 shares. The stock had previously closed at $12.38.

Ginkgo Bioworks Trading Down 2.7 %

The firm has a 50-day moving average of $11.08. The firm has a market cap of $692.35 million, a P/E ratio of -0.92 and a beta of 1.16.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DNA. PDT Partners LLC bought a new stake in Ginkgo Bioworks in the third quarter valued at about $1,199,000. Erste Asset Management GmbH bought a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at about $4,075,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at approximately $2,282,000. BNP Paribas Financial Markets bought a new position in Ginkgo Bioworks during the 3rd quarter worth approximately $1,287,000. Finally, PFG Investments LLC acquired a new position in Ginkgo Bioworks during the third quarter valued at approximately $1,541,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.