Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Update

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 7,330,000 shares, a decrease of 7.0% from the October 15th total of 7,880,000 shares. Approximately 20.7% of the shares of the stock are short sold. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analyst Weigh In

DNA has been the subject of several recent analyst reports. TD Cowen increased their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. BTIG Research increased their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a "sell" rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.58.

Ginkgo Bioworks Stock Down 1.6 %

NYSE DNA traded down $0.10 during midday trading on Monday, hitting $6.27. The company had a trading volume of 1,345,785 shares, compared to its average volume of 1,150,315. Ginkgo Bioworks has a twelve month low of $5.26 and a twelve month high of $75.20. The stock has a market cap of $348.49 million, a P/E ratio of -0.49 and a beta of 1.09. The business has a 50-day moving average of $7.78.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently modified their holdings of DNA. Swiss National Bank raised its holdings in shares of Ginkgo Bioworks by 1.4% during the 1st quarter. Swiss National Bank now owns 2,078,500 shares of the company's stock worth $2,411,000 after buying an additional 27,700 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Ginkgo Bioworks by 44.2% during the 1st quarter. QRG Capital Management Inc. now owns 218,170 shares of the company's stock worth $253,000 after buying an additional 66,832 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Ginkgo Bioworks by 9,440.6% in 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 in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Ginkgo Bioworks by 260.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 451,383 shares of the company's stock worth $525,000 after purchasing an additional 326,070 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Ginkgo Bioworks by 35.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 198,618 shares of the company's stock worth $230,000 after purchasing an additional 51,814 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Ginkgo Bioworks Company 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.