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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.29, but opened at $8.82. Ginkgo Bioworks shares last traded at $9.82, with a volume of 1,454,847 shares traded.

Ginkgo Bioworks Price Performance

The stock has a market cap of $558.41 million, a P/E ratio of -0.75 and a beta of 1.16. The firm has a fifty day moving average price of $11.52.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Ginkgo Bioworks during the 3rd quarter worth approximately $1,287,000. Verition Fund Management LLC bought a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth $792,000. PDT Partners LLC purchased a new position in shares of Ginkgo Bioworks in the third quarter worth approximately $1,199,000. Erste Asset Management GmbH acquired a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at about $4,075,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Ginkgo Bioworks by 644.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company’s stock valued at $263,000 after buying an additional 27,978 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.