Anchorage Capital Group L.L.C. Trims Stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Anchorage Capital Group L.L.C. cut its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 97.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,746,363 shares of the company's stock after selling 68,158,230 shares during the quarter. Ginkgo Bioworks makes up 3.7% of Anchorage Capital Group L.L.C.'s investment portfolio, making the stock its 4th largest holding. Anchorage Capital Group L.L.C. owned 3.14% of Ginkgo Bioworks worth $14,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company's stock worth $37,000 after purchasing an additional 31,626 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Ginkgo Bioworks by 260.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 451,383 shares of the company's stock worth $525,000 after buying an additional 326,070 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Ginkgo Bioworks by 2,683.7% in the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company's stock valued at $2,626,000 after buying an additional 2,182,773 shares during the period. Cetera Advisors LLC lifted its position in shares of Ginkgo Bioworks by 12.1% during the 1st quarter. Cetera Advisors LLC now owns 348,543 shares of the company's stock valued at $404,000 after buying an additional 37,704 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of Ginkgo Bioworks by 653.7% during the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company's stock worth $74,000 after acquiring an additional 191,336 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Ginkgo Bioworks Price Performance

Shares of DNA stock traded up $0.44 on Friday, reaching $8.70. The company's stock had a trading volume of 549,027 shares, compared to its average volume of 1,145,048. The firm has a market cap of $500.08 million, a P/E ratio of -0.67 and a beta of 1.09. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $5.26 and a 12-month high of $75.20. The company has a 50 day simple moving average of $7.93.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DNA shares. TD Cowen boosted their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, September 20th. BTIG Research lifted their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a "sell" rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.58.

Ginkgo Bioworks Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.