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Ginkgo Bioworks (NYSE:DNA) Trading 7.1% Higher

Financial News Live ·  Sep 12, 2022 15:51

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) traded up 7.1% during mid-day trading on Monday . The stock traded as high as $3.15 and last traded at $3.15. 827,671 shares traded hands during trading, a decline of 96% from the average session volume of 21,081,771 shares. The stock had previously closed at $2.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Ginkgo Bioworks from $11.50 to $4.35 in a report on Thursday, June 16th. Raymond James increased their price target on shares of Ginkgo Bioworks from $11.50 to $14.50 and gave the company an "outperform" rating in a report on Tuesday, August 16th. Bank of America cut shares of Ginkgo Bioworks from a "neutral" rating to an "underperform" rating and set a $3.00 price target on the stock. in a report on Wednesday, May 18th. Finally, BTIG Research increased their price target on shares of Ginkgo Bioworks from $5.00 to $6.00 and gave the company a "buy" rating in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $8.69.

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Ginkgo Bioworks Stock Up 7.8 %

The company has a market capitalization of $5.66 billion, a PE ratio of -1.62 and a beta of 1.84. The company's 50 day moving average is $2.96 and its two-hundred day moving average is $3.11. The company has a quick ratio of 11.78, a current ratio of 11.84 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors and hedge funds have recently made changes to their positions in DNA. B. Riley Wealth Management Inc. lifted its holdings in shares of Ginkgo Bioworks by 310.9% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 48,900 shares of the company's stock worth $116,000 after acquiring an additional 37,000 shares during the last quarter. Amundi lifted its holdings in shares of Ginkgo Bioworks by 102.5% in the 2nd quarter. Amundi now owns 119,480 shares of the company's stock worth $369,000 after acquiring an additional 60,469 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Ginkgo Bioworks by 22.8% in the 2nd quarter. Verition Fund Management LLC now owns 47,361 shares of the company's stock worth $113,000 after acquiring an additional 8,780 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $599,000. Finally, Centiva Capital LP bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $99,000. 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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