Ginkgo Bioworks (NYSE:DNA) Shares Down 9.3% – Should You Sell?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) were down 9.3% during mid-day trading on Monday . The stock traded as low as $9.74 and last traded at $9.81. Approximately 996,717 shares traded hands during trading, a decline of 40% from the average daily volume of 1,666,032 shares. The stock had previously closed at $10.82.

Ginkgo Bioworks Stock Performance

The business has a 50 day moving average price of $11.52. The stock has a market capitalization of $526.45 million, a PE ratio of -0.70 and a beta of 1.16.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. PDT Partners LLC purchased a new position in shares of Ginkgo Bioworks in the third quarter worth about $1,199,000. Erste Asset Management GmbH purchased a new position in Ginkgo Bioworks during the 3rd quarter valued at about $4,075,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $2,282,000. BNP Paribas Financial Markets purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $1,287,000. Finally, Verition Fund Management LLC bought a new stake in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $792,000. Hedge funds and other 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.