Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.17, but opened at $3.28. Ginkgo Bioworks shares last traded at $3.24, with a volume of 339,500 shares.
Analysts Set New Price Targets
A number of research firms have issued reports on DNA. Raymond James increased their target price on shares of Ginkgo Bioworks from $11.50 to $14.50 and gave the stock an "outperform" rating in a report on Tuesday, August 16th. Bank of America lowered shares of Ginkgo Bioworks from a "neutral" rating to an "underperform" rating and set a $3.00 target price on the stock. in a report on Wednesday, May 18th. BTIG Research increased their target price on shares of Ginkgo Bioworks from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Tuesday, August 16th. Finally, Jefferies Financial Group dropped their price objective on shares of Ginkgo Bioworks from $11.50 to $4.35 in a research report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of "Moderate Buy" and an average target price of $8.69.
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Ginkgo Bioworks Price Performance
The company has a debt-to-equity ratio of 0.03, a quick ratio of 11.78 and a current ratio of 11.84. The company has a market capitalization of $5.48 billion, a PE ratio of -1.57 and a beta of 1.84. The company's 50-day simple moving average is $2.98 and its 200-day simple moving average is $3.10.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lincoln National Corp acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth $26,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth $30,000. Cetera Investment Advisers acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth $33,000. First Horizon Advisors Inc. acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth $38,000. Finally, Endurance Wealth Management Inc. lifted its stake in shares of Ginkgo Bioworks by 100.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 10,000 shares of the company's stock worth $40,000 after acquiring an additional 5,000 shares during the period. 53.37% of the stock is owned by hedge funds and other institutional investors.
About Ginkgo Bioworks
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Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.
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