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4. Zymergen Inc. (NASDAQ:ZY)

Percentage of ARK Investment Management’s 13F Portfolio: 0.03%

ARK Investment Management’s Stake Value: $9.07 million

Number of Hedge Fund Holders: 11

Market Capitalization: $165.54 million

Zymergen Inc. (NASDAQ:ZY) is an American biotechnology company based in Emeryville, California. The company applies genomics and machine learning to research and design chemical producing genetically modified organisms. ARK owned 3.13 million shares of Zymergen Inc. (NASDAQ:ZY) at the end of the first quarter of 2022 worth $9.07 million, representing 0.03% of the portfolio.

On June 28, Zymergen Inc. (NASDAQ:ZY) announced an R&D supply agreement to provide Zymergen Z2 polyimide powder to 3D4Makers for use in high performance 3D printing applications. 3D4Makers will convert the powder to filament, offering its first-ever polyimide filament to customers for use across a wide range of applications including aerospace, automotive, and transportation.

At the end of the first quarter of 2022, 11 hedge funds in the database of Insider Monkey held stakes worth $24.93 million in Zymergen Inc. (NASDAQ:ZY), compared to 8 in the preceding quarter worth $42.15 million. Among the hedge funds being tracked by Insider Monkey, Israel Englander’s Millennium Management is a leading shareholder in Zymergen Inc. (NASDAQ:ZY) with 1.24 million shares worth more than $3.58 million.

In its Q3 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Zymergen Inc. (NASDAQ:ZY) was one of them. Here is what the fund said:

“Zymergen Inc. is a company dedicated to biofacturing, or harnessing bacteria to manufacture materials. Zymergen was a detractor following an unexpected update announcing both a major delay in the launch of lead product Hyaline and the removal of CEO Josh Hoffman, who was replaced by company chairman and former Illumina CEO Jay Flatley. We exited our position given material impacts to the business.”