Ginkgo Bioworks (NYSE:DNA) Trading Down 6.3% – Here’s What Happened

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) fell 6.3% during mid-day trading on Tuesday . The stock traded as low as $14.12 and last traded at $13.80. 1,322,340 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 1,601,629 shares. The stock had previously closed at $14.73.

Ginkgo Bioworks Stock Performance

The firm has a market capitalization of $657.86 million, a price-to-earnings ratio of -0.88 and a beta of 1.16. The firm’s 50 day simple moving average is $11.45.

Institutional Inflows and Outflows

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

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.