Ginkgo Bioworks (NYSE:DNA) Trading 7.9% Higher – Time to Buy?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) rose 7.9% during mid-day trading on Wednesday . The company traded as high as $15.44 and last traded at $15.42. Approximately 478,811 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,319,620 shares. The stock had previously closed at $14.29.

Ginkgo Bioworks Stock Performance

The business has a 50-day moving average of $10.84. The company has a market cap of $819.26 million, a PE ratio of -1.09 and a beta of 1.16.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $29,000. KBC Group NV purchased a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at approximately $31,000. Algert Global LLC acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at $36,000. Palumbo Wealth Management LLC purchased a new stake in shares of Ginkgo Bioworks during the 4th quarter worth $144,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Ginkgo Bioworks during the fourth quarter worth $154,000. 78.63% of the stock is owned by institutional investors and hedge funds.

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.