Ginkgo Bioworks (NYSE:DNA) Trading Down 5.4% – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $11.21 and last traded at $11.72. 649,797 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,534,823 shares. The stock had previously closed at $12.38.

Ginkgo Bioworks Stock Down 2.7 %

The firm has a market capitalization of $692.35 million, a PE ratio of -0.92 and a beta of 1.16. The business’s 50 day moving average price is $11.08.

Institutional Trading of Ginkgo Bioworks

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $29,000. KBC Group NV bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $31,000. KLP Kapitalforvaltning AS acquired a new position in Ginkgo Bioworks in the 4th quarter worth $46,000. Palumbo Wealth Management LLC bought a new position in Ginkgo Bioworks during the 4th quarter worth about $144,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at about $154,000. 78.63% of the stock is owned by institutional investors.

Ginkgo Bioworks Company Profile

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.