Ginkgo Bioworks (NYSE:DNA) Stock Price Up 6.4% – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) traded up 6.4% on Wednesday . The company traded as high as $12.20 and last traded at $12.32. 122,556 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,278,910 shares. The stock had previously closed at $11.58.

Ginkgo Bioworks Price Performance

The company has a market cap of $733.44 million, a price-to-earnings ratio of -0.98 and a beta of 1.09. The company’s 50-day simple moving average is $9.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Ginkgo Bioworks during the fourth quarter worth $31,000. Algert Global LLC acquired a new stake in Ginkgo Bioworks during the second quarter worth about $36,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $41,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 purchasing an additional 221,078 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter worth $199,000. 78.63% of the stock is currently owned by hedge funds and other 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.