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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $13.36, but opened at $12.37. Ginkgo Bioworks shares last traded at $12.08, with a volume of 301,887 shares trading hands.

Ginkgo Bioworks Stock Down 16.6 %

The stock has a market cap of $783.91 million, a price-to-earnings ratio of -1.04 and a beta of 1.16. The company has a fifty day simple moving average of $10.73.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in Ginkgo Bioworks during the fourth quarter valued at approximately $29,000. KBC Group NV bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth $31,000. Palumbo Wealth Management LLC acquired a new position in Ginkgo Bioworks during the 4th quarter valued at about $144,000. Y Intercept Hong Kong Ltd bought a new stake in Ginkgo Bioworks during the fourth quarter worth approximately $154,000. Finally, SVB Wealth LLC acquired a new stake in Ginkgo Bioworks in the 4th quarter valued at about $171,000. 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.