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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $12.90, but opened at $12.50. Ginkgo Bioworks shares last traded at $12.34, with a volume of 161,861 shares trading hands.

Ginkgo Bioworks Stock Performance

The stock has a market cap of $736.55 million, a price-to-earnings ratio of -0.99 and a beta of 1.09. The company has a fifty day moving average of $9.49.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $2,128,000. XTX Topco Ltd acquired a new stake in Ginkgo Bioworks in the second quarter valued at approximately $312,000. Benjamin F. Edwards & Company Inc. grew its holdings in Ginkgo Bioworks by 1,606.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after acquiring an additional 221,078 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at approximately $3,391,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at $251,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.