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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $12.72, but opened at $12.23. Ginkgo Bioworks shares last traded at $11.85, with a volume of 209,900 shares changing hands.

Ginkgo Bioworks Price Performance

The company's fifty day moving average is $8.64 and its two-hundred day moving average is $9.14.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.35). Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. The company had revenue of $48.32 million during the quarter, compared to analyst estimates of $38.70 million. Analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in shares of Ginkgo Bioworks by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company's stock valued at $3,915,000 after acquiring an additional 139,126 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Ginkgo Bioworks during the first quarter worth about $120,000. Millennium Management LLC grew its stake in shares of Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after buying an additional 757,535 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Ginkgo Bioworks by 322.6% in the first quarter. AQR Capital Management LLC now owns 158,939 shares of the company's stock valued at $906,000 after buying an additional 121,326 shares in the last quarter. Finally, PDT Partners LLC grew its stake in shares of Ginkgo Bioworks by 104.0% in the first quarter. PDT Partners LLC now owns 385,153 shares of the company's stock valued at $2,195,000 after buying an additional 196,350 shares in the last quarter. 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.