Ginkgo Bioworks (NYSE:DNA) Shares Up 6.4% – Here’s What Happened

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price rose 6.4% on Wednesday . The stock traded as high as $12.20 and last traded at $12.32. Approximately 122,556 shares were traded during trading, a decline of 90% from the average daily volume of 1,278,910 shares. The stock had previously closed at $11.58.

Ginkgo Bioworks Trading Up 11.1 %

The firm has a market capitalization of $739.65 million, a price-to-earnings ratio of -0.98 and a beta of 1.09. The business’s 50 day moving average price is $9.34.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently modified their holdings of DNA. AQR Capital Management LLC acquired a new position in Ginkgo Bioworks during the second quarter worth $3,391,000. Renaissance Technologies LLC bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $2,128,000. XTX Topco Ltd bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $312,000. Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth about $251,000. Finally, Erste Asset Management GmbH bought a new position in Ginkgo Bioworks during the 3rd quarter valued at about $4,075,000. 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.