5 Best Medical Stocks Under $10

4. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Number of Hedge Fund Holders: 30

Stock Price as of August 2: $3.00

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a Boston, Massachusetts-based biotech company that uses genetic engineering to create bacteria for industrial uses.

The company intends to complete the acquisition of Zymergen Inc. (NASDAQ:ZY), a biotech company, in an all-stock transaction of $300 million by the end of Q1 2023. The holder of one share of Zymergen will receive 0.9179 shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA). This would mean that the shareholders of Zymergen will have Pro-forma ownership of 5.25% in Gingko. The deal is Ginkgo Bioworks Holdings, Inc.’s (NYSE:DNA) largest acquisition to date. It would help the company expand its horizontal platform, which targets customers in different sectors.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has notable hedge funds like Viking Global and Ark Investment Management among its top 10 shareholders as of Q1 2022. On July 5, Viking Global Investors increased its ownership stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) from 6.5% to 9.7% by acquiring an additional 64.02 million shares in the company.