Why Is Ginkgo Bioworks Stock Up Today?

Ginkgo Bioworks Holdings Inc DNA shares are trading higher Tuesday after the company announced the acquisitions of Altar and Circularis. Terms of the deals were not disclosed. 

Altar is a French biotechnology company that has developed a proprietary adaptive evolution platform. A fleet of Altar's automated adaptive laboratory evolution instruments will be integrated into Ginkgo's Foundry. Ginkgo has previously collaborated with Altar on customer programs.

Circularis is a biotechnology company with a proprietary circular RNA and promoter screening platform. Circularis' platform is expected to strengthen Ginkgo's platform for development of cell and gene therapies, providing the capability to quickly identify novel promoters with appropriate characteristics.

"We are excited to leverage the strong expertise of the Circularis team to further develop circular RNA methods for therapeutic use, and can't wait to incorporate this technology into existing and upcoming cell programs across therapeutic applications as well as more broadly," said Narendra Maheshri, Head of Mammalian Foundry at Ginkgo Bioworks.

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DNA Price Action: Ginkgo has a 52-week high of $8.77 and a 52-week low of $2.09.

The stock was up 4.46% at $3.28 at time of publication, according to Benzinga Pro.

Photo: Victoria_rt from Pixabay.