Ginkgo Bioworks (NYSE:DNA), which is best known for operating a horizontal platform meant for cell programming, was one of the companies to have come into focus among investors yesterday and saw its stock end the day with gains of as much as 8%.
Trading Data
On Thursday, DNA stock moved up 8.18% to $2.38 with more than 26.62 million shares, compared to its average volume of 19.25 million shares. The stock moved within a range of $2.0900 – 2.4900 after opening trade at $2.14.
Evo Foods and Ginkgo Bioworks Announce Partnership to Develop Animal-Free Egg Products
There may not have been any news about the company yesterday but the day before it was announced that Gingko had gone into a partnership with Evo Foods. Evo Foods is a consumer packaged items firm and is mainly involved in the manufacturing of plant based items that could substitute animal products.
As per the provisions of the partnership between the two companies, the two companies are going to be involved in the development of a process by way of which it could be possible to produce egg proteins which are free of animals. The egg proteins are going to be used in products that are manufactured by Evo Foods.
At this point in time, there is considerable demand for products that are animal free and hence, the partnership could well prove to be a pretty interesting one. It may be a good move to keep an eye on the Gingko stock.
Key Quote
“As consumers and food brands alike call for more sustainable food options, we are excited to collaborate with Ginkgo to pioneer a new class of animal-free ingredients,” said Kartik Dixit, CEO, Evo Foods.
Technical Data
DNA stock is below the 20-Day and 50-Day Moving averages of $3.01 and $3.38 respectively. Moreover, the stock is trading below the 200-Day moving average of $8.15.
