Ginkgo Bioworks (NYSE:DNA) Shares Down 9.3% – Should You Sell?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) were down 9.3% during mid-day trading on Monday . The company traded as low as $9.74 and last traded at $9.81. Approximately 996,717 shares traded hands during 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 stock’s fifty day simple moving average is $11.52. The firm has a market capitalization of $526.45 million, a price-to-earnings ratio of -0.70 and a beta of 1.16.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth $29,000. KBC Group NV bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth $31,000. KLP Kapitalforvaltning AS bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth $46,000. Mercer Global Advisors Inc. ADV bought a new position in Ginkgo Bioworks in the fourth quarter valued at $116,000. Finally, Palumbo Wealth Management LLC purchased a new stake in Ginkgo Bioworks during the fourth quarter valued at about $144,000. Institutional investors 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.