Ginkgo Bioworks (NYSE:DNA) Shares Gap Down – Should You Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.29, but opened at $8.82. Ginkgo Bioworks shares last traded at $9.82, with a volume of 1,454,847 shares traded.

Ginkgo Bioworks Trading Down 5.6 %

The stock has a market capitalization of $558.41 million, a PE ratio of -0.75 and a beta of 1.16. The business’s fifty day moving average is $11.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DNA. Bank of America Corp DE raised its position in shares of Ginkgo Bioworks by 780.6% during the 4th quarter. Bank of America Corp DE now owns 3,764,455 shares of the company’s stock valued at $36,967,000 after acquiring an additional 3,336,964 shares during the last quarter. Forbes J M & Co. LLP lifted its stake in Ginkgo Bioworks by 461.4% in the fourth quarter. Forbes J M & Co. LLP now owns 701,732 shares of the company’s stock valued at $6,891,000 after acquiring an additional 576,732 shares during the last quarter. Millennium Management LLC raised its stake in Ginkgo Bioworks by 357.4% in the 4th quarter. Millennium Management LLC now owns 670,065 shares of the company’s stock valued at $6,580,000 after acquiring an additional 523,571 shares during the period. Erste Asset Management GmbH acquired a new stake in Ginkgo Bioworks during the third quarter worth approximately $4,075,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Ginkgo Bioworks during the third quarter worth approximately $2,282,000. 78.63% of the stock is owned by institutional investors and hedge funds.

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.