Ginkgo Bioworks (NYSE:DNA) Stock Price Down 5.4% - Should You Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price traded down 5.4% during trading on Wednesday . The company traded as low as $8.72 and last traded at $8.70. 408,065 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,443,480 shares. The stock had previously closed at $9.19.

Ginkgo Bioworks Trading Down 2.0%

The firm has a market capitalization of $551.18 million, a P/E ratio of -1.03 and a beta of 1.25. The business has a 50-day moving average of $7.89 and a 200 day moving average of $9.00.

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

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Ginkgo Bioworks by 780.6% during the 4th quarter. Bank of America Corp DE now owns 3,764,455 shares of the company's stock valued at $36,967,000 after buying an additional 3,336,964 shares in the last quarter. Erste Asset Management GmbH raised its stake in Ginkgo Bioworks by 123.2% during the first quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock valued at $9,405,000 after buying an additional 910,668 shares during the last quarter. Millennium Management LLC raised 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 worth $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Forbes J M & Co. LLP raised its stake in shares of Ginkgo Bioworks by 56.0% in the first quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock worth $6,239,000 after purchasing an additional 392,832 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Ginkgo Bioworks by 188.9% in the first quarter. Cubist Systematic Strategies LLC now owns 439,259 shares of the company's stock worth $2,504,000 after acquiring an additional 287,221 shares during the period. Hedge funds and other institutional investors 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.