Ginkgo Bioworks (NYSE:DNA) Shares Down 6.8% – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) dropped 6.8% during mid-day trading on Thursday . The company traded as low as $15.38 and last traded at $15.25. Approximately 867,793 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,409,162 shares. The stock had previously closed at $16.36.

Ginkgo Bioworks Stock Up 4.2 %

The business has a 50-day moving average of $10.84. The firm has a market capitalization of $819.26 million, a P/E ratio of -1.09 and a beta of 1.16.

Institutional Investors Weigh In On Ginkgo Bioworks

Large investors have recently bought and sold shares of the business. SPX Gestao de Recursos Ltda acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter worth about $491,000. Prescott Group Capital Management L.L.C. lifted its holdings in Ginkgo Bioworks by 33.1% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,750 shares of the company’s stock worth $3,552,000 after purchasing an additional 90,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ginkgo Bioworks by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 233,717 shares of the company’s stock worth $2,295,000 after purchasing an additional 17,372 shares during the period. SBI Securities Co. Ltd. acquired a new position in Ginkgo Bioworks during the fourth quarter valued at approximately $29,000. Finally, SVB Wealth LLC bought a new position in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $171,000. 78.63% of the stock is currently owned by institutional investors.

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.