Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) have received an average rating of "Reduce" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.16.

DNA has been the topic of several recent research reports. TD Cowen upped their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a "buy" rating in a report on Friday, September 20th. The Goldman Sachs Group lowered their target price on Ginkgo Bioworks from $0.80 to $0.30 and set a "sell" rating on the stock in a research note on Tuesday, July 9th. Finally, BTIG Research lifted their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a "sell" rating in a research report on Friday, August 23rd.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. Paloma Partners Management Co acquired a new stake in shares of Ginkgo Bioworks in the first quarter valued at about $28,000. First Trust Direct Indexing L.P. purchased a new stake in Ginkgo Bioworks during the 1st quarter worth approximately $35,000. Algert Global LLC acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $36,000. Russell Investments Group Ltd. raised its holdings in shares of Ginkgo Bioworks by 9,440.6% during the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company's stock valued at $37,000 after acquiring an additional 31,626 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Ginkgo Bioworks Trading Up 3.9 %

DNA stock traded up $0.31 during midday trading on Wednesday, reaching $8.30. The stock had a trading volume of 841,272 shares, compared to its average volume of 1,127,491. The firm has a fifty day simple moving average of $7.55. Ginkgo Bioworks has a 52-week low of $5.26 and a 52-week high of $75.20. The firm has a market cap of $461.31 million, a PE ratio of -0.45 and a beta of 1.09.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share for the quarter, hitting the consensus estimate of ($3.20). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The company had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. As a group, research analysts forecast that Ginkgo Bioworks will post -6.26 EPS for the current fiscal year.

About Ginkgo Bioworks

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.