Ginkgo Bioworks (NYSE:DNA) Stock Price Up 7.9% – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were up 7.9% during trading on Wednesday . The company traded as high as $15.44 and last traded at $15.42. Approximately 478,811 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,319,620 shares. The stock had previously closed at $14.29.

Ginkgo Bioworks Trading Up 16.0 %

The company has a market cap of $953.08 million, a P/E ratio of -1.27 and a beta of 1.16. The business has a fifty day moving average of $10.57.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds have recently modified their holdings of the company. KBC Group NV bought a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at approximately $31,000. Palumbo Wealth Management LLC bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth about $144,000. Y Intercept Hong Kong Ltd bought a new stake in Ginkgo Bioworks during the 4th quarter valued at about $154,000. SVB Wealth LLC purchased a new stake in Ginkgo Bioworks in the 4th quarter valued at about $171,000. Finally, SG Americas Securities LLC bought a new position in Ginkgo Bioworks in the 4th quarter worth about $199,000. 78.63% of the stock is currently 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.