Last updated on August 23, 2023
Cathie Wood’s Ark Invest recently made a significant purchase of nearly 6.5 million shares of Ginkgo Bioworks, a leading biotechnology firm. The trade, valued at around $11 million, was divided between two of Ark’s ETFs. Ark Innovation acquired approximately 5.1 million shares, while the Ark Genomic Revolution ETF purchased 1.3 million shares.
Ginkgo Bioworks has been a favored investment for Ark Invest for some time. The company currently holds over 118 million shares of Ginkgo, worth around $207 million, which accounts for 2.65% of Ark Innovation’s portfolio. Additionally, the Genomic Revolution fund owns 52.1 million shares valued at $91.2 million, making up 4.3% of the fund’s portfolio.
While Ginkgo Bioworks reported a 44% decrease in revenue compared to the previous year in its second-quarter earnings, the company saw positive growth in its Cell Engineering Services revenue, which was up by 72%. It also reported a gross profit margin of 49% for its Biosecurity revenue, which amounted to $35 million. The company’s operational loss for the quarter was $184 million, a significant improvement from the $648 million loss reported last year. Ginkgo projects revenue of $245 to $260 million for the full year.
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