Ginkgo Bioworks (NYSE:DNA) Shares Down 6.3% – Time to Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were down 6.3% during mid-day trading on Tuesday . The company traded as low as $14.12 and last traded at $13.80. Approximately 1,322,340 shares traded hands during trading, a decline of 17% from the average daily volume of 1,601,629 shares. The stock had previously closed at $14.73.

Ginkgo Bioworks Stock Down 6.4 %

The company has a market capitalization of $792.36 million, a PE ratio of -1.05 and a beta of 1.16. The company’s 50 day simple moving average is $11.34.

Institutional Trading of Ginkgo Bioworks

Institutional investors and hedge funds have recently made changes to their positions in the company. PDT Partners LLC bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at about $1,199,000. Erste Asset Management GmbH bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at about $4,075,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at about $2,282,000. BNP Paribas Financial Markets bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at about $1,287,000. Finally, PFG Investments LLC bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at about $1,541,000. 78.63% of the stock is currently owned by institutional investors.

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.