Ginkgo Bioworks (NYSE:DNA) Trading Down 6.8% – Should You Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price was down 6.8% during mid-day trading on Thursday . The stock traded as low as $15.38 and last traded at $15.25. Approximately 867,793 shares were traded 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 company has a 50 day moving average price of $10.84. The firm has a market cap of $819.26 million, a price-to-earnings ratio of -1.09 and a beta of 1.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DNA. Forbes J M & Co. LLP grew its stake in shares of Ginkgo Bioworks by 461.4% in the fourth quarter. Forbes J M & Co. LLP now owns 701,732 shares of the company’s stock worth $6,891,000 after acquiring an additional 576,732 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Ginkgo Bioworks in the 3rd quarter worth $4,075,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Ginkgo Bioworks during the 3rd quarter worth about $2,282,000. PFG Investments LLC acquired a new position in shares of Ginkgo Bioworks during the third quarter valued at about $1,541,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Ginkgo Bioworks during the third quarter valued at about $1,287,000. 78.63% of the stock is 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.