5 Genomics Stocks in Cathie Wood’s Portfolio That Are Underperforming

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

Number of Hedge Fund Holders: 30

Decline in Share Price in the Last 6 Months: 53.27%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a biotech company involved in genetic engineering to produce bacteria with industrial applications. Cathie Wood’s ARK Investment Management purchased a stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in Q3 2021, and at the end of December 2021, the hedge fund elevated its position in the company by 86%, holding 43.1 million shares worth $358.8 million. 

On February 1, BofA analyst Derik de Bruin started the stock with a Neutral rating and a $6 price target. The analyst says the synthetic biology market holds “much long-term promise”, and overall he has a positive view on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s engineering biology platform, but that it is tough to judge the adoption and commercial traction for end products derived from the company’s technology.

According to the fourth quarter database of Insider Monkey, 30 hedge funds reported owning stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), collectively amounting to $4.2 billion, as compared to 32 funds holding stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) worth $5.6 billion a quarter earlier.