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

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

Ginkgo Bioworks Price Performance

The business has a 50 day moving average price of $11.12.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in Ginkgo Bioworks during the fourth quarter worth about $29,000. KBC Group NV bought a new position in shares of Ginkgo Bioworks during the 4th quarter valued at $31,000. KLP Kapitalforvaltning AS purchased a new position in Ginkgo Bioworks in the 4th quarter worth $46,000. Bank of New York Mellon Corp lifted its stake in Ginkgo Bioworks by 48.2% in the fourth quarter. Bank of New York Mellon Corp now owns 23,061 shares of the company’s stock worth $226,000 after purchasing an additional 7,503 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its position in Ginkgo Bioworks by 3.9% during the fourth quarter. Monaco Asset Management SAM now owns 384,664 shares of the company’s stock valued at $3,777,000 after buying an additional 14,539 shares during the period. Institutional investors 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.