Ginkgo Bioworks (NYSE:DNA) Shares Gap Down - What's Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) gapped down before the market opened 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 changing hands.

Ginkgo Bioworks Trading Down 3.2 %

The stock has a 50 day moving average of $9.73. The stock has a market capitalization of $733.44 million, a price-to-earnings ratio of -0.98 and a beta of 1.09.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of large investors have recently added to or reduced their stakes in DNA. AQR Capital Management LLC bought a new position in shares of Ginkgo Bioworks during the second quarter valued at about $3,391,000. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the 2nd quarter valued at about $2,128,000. XTX Topco Ltd bought a new position in Ginkgo Bioworks during the 2nd quarter worth approximately $312,000. Mackenzie Financial Corp purchased a new position in Ginkgo Bioworks in the 2nd quarter worth approximately $251,000. Finally, Erste Asset Management GmbH bought a new stake in Ginkgo Bioworks in the third quarter valued at approximately $4,075,000. 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.