Geode Capital Management LLC Trims Stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Geode Capital Management LLC cut its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 97.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,631 shares of the company's stock after selling 14,895,639 shares during the period. Geode Capital Management LLC owned about 0.75% of Ginkgo Bioworks worth $3,397,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Algert Global LLC acquired a new position in Ginkgo Bioworks during the 2nd quarter worth $36,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Ginkgo Bioworks during the second quarter worth about $41,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Ginkgo Bioworks during the second quarter worth approximately $70,000. Benjamin F. Edwards & Company Inc. raised its holdings in Ginkgo Bioworks by 1,606.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company's stock valued at $79,000 after acquiring an additional 221,078 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Ginkgo Bioworks in the second quarter worth approximately $251,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Ginkgo Bioworks Stock Down 3.3 %

DNA traded down $0.39 on Tuesday, reaching $11.26. The company's stock had a trading volume of 1,505,934 shares, compared to its average volume of 1,502,359. The company has a market capitalization of $647.21 million, a P/E ratio of -0.86 and a beta of 1.09. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $64.40. The business has a 50 day simple moving average of $8.99.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised their price objective 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. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Ginkgo Bioworks has a consensus rating of "Hold" and a consensus target price of $4.58.

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.