Ginkgo Bioworks (NYSE:DNA) Shares Down 5.4% - Here's What Happened

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares were down 5.4% during mid-day trading on Wednesday . The company traded as low as $11.21 and last traded at $11.72. Approximately 649,797 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,534,823 shares. The stock had previously closed at $12.38.

Ginkgo Bioworks Stock Up 8.7 %

The firm has a 50-day moving average price of $11.26. The firm has a market capitalization of $846.39 million, a PE ratio of -1.13 and a beta of 1.16.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH boosted its stake in shares of Ginkgo Bioworks by 47.9% in the 4th quarter. Erste Asset Management GmbH now owns 739,332 shares of the company's stock valued at $6,979,000 after buying an additional 239,332 shares during the period. Forbes J M & Co. LLP lifted its stake in Ginkgo Bioworks by 461.4% during the fourth quarter. Forbes J M & Co. LLP now owns 701,732 shares of the company's stock worth $6,891,000 after purchasing an additional 576,732 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ginkgo Bioworks by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 437,025 shares of the company's stock worth $4,294,000 after purchasing an additional 20,394 shares during the last quarter. Monaco Asset Management SAM lifted its stake in Ginkgo Bioworks by 3.9% during the fourth quarter. Monaco Asset Management SAM now owns 384,664 shares of the company's stock worth $3,777,000 after purchasing an additional 14,539 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its stake in Ginkgo Bioworks by 33.1% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,750 shares of the company's stock valued at $3,552,000 after buying an additional 90,000 shares during the last quarter. 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.