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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares fell 6.3% on Tuesday . The stock traded as low as $14.12 and last traded at $13.80. 1,322,340 shares were traded during 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 Price Performance

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

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently modified their holdings of DNA. PFG Investments LLC purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $1,541,000. Forbes J M & Co. LLP purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $1,019,000. BNP Paribas Financial Markets purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $1,287,000. Verition Fund Management LLC purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $792,000. Finally, PDT Partners LLC purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $1,199,000. 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.