Cathie Wood Just Doubled Down on Ginkgo Bioworks (DNA) Stock

  • Ginkgo Bioworks (DNA) is rallying on reports that Cathie Wood continues to buy shares.
  • She’s been buying DNA stock for the Ark Innovation Fund (ARKK) and the ARK Genomic Revolution ETF (ARKG).
  • The stock is still down 60% so far this year, but Wood is hoping it rallies and holds an overall position of 87 million shares.
DNA stock - Cathie Wood Just Doubled Down on Ginkgo Bioworks (DNA) Stock

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Through the ups, Ark Invest’s Cathie Wood gained notoriety. Despite the recent turmoil with Ark, Wood remains a focal point among investors. Her latest buying spree is in Ginkgo Bioworks (NASDAQ:DNA). Shares of DNA stock are up more than 5% on Wednesday as Wood’s conviction in the company continues to increase.

On Monday, Wood purchased a hefty 860,480 shares of Ginkgo Bioworks, which are worth $2.6 million. The stock is down 65% this year, and Wood is taking advantage and buying the dip.

Wood owns DNA stock in multiple Ark funds: the flagship Ark Innovation Fund (NYSEARCA:ARKK) and the ARK Genomic Revolution ETF (BATS:ARKG). Her recent purchases include:

  • 1.57 million shares of DNA stock on June 29 (in ARKK).
  • 1.54 million shares on June 30 (in ARKK).
  • 454,816 shares on July 1 (in ARKG).

How DNA Stock Fits in Cathie Wood’s Ark Funds

So what is Ginkgo Bioworks, and how large of a position is it for Wood’s Ark? The company is based in Boston and describes itself as the following:

“Ginkgo is building a platform to enable customers to program cells as easily as we can program computers. The company’s platform is enabling biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals.”

Overall, Ginkgo is now the 20th-largest holding in all Ark funds, accounting for 1.57% of its total assets. It’s the 17th-largest holding in ARKK, accounting for 2.45% of its portfolio, and the 13th-largest holding in ARKG, accounting for 3.24%.

In total, Ark owns more than 87 million shares in DNA stock, making it the company’s third-largest holder. That’s good for roughly an 8% stake in the firm.

That trails General Atlantic and Baillie Gifford and Company, the latter of which owns a whopping 167.75 million shares. Ark was also a large shareholder (and still is a top-10 institutional shareholder) in Tesla (NASDAQ:TSLA), the stock that propelled Wood & Co. to notoriety thanks to its explosive rally.

So while investors might not recognize DNA stock and its $5.6 billion market capitalization, Wood certainly has. However, it may take some time to prove her thesis, as we’re still stuck in a bear market.

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On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.


Article printed from InvestorPlace Media, https://investorplace.com/2022/07/cathie-wood-just-doubled-down-on-ginkgo-bioworks-dna-stock/.

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