Ginkgo Bioworks (NYSE:DNA) Trading Down 5.5% - What's Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price traded down 5.5% on Friday . The stock traded as low as $9.76 and last traded at $9.76. Approximately 235,689 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,156,619 shares. The stock had previously closed at $10.33.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DNA shares. BTIG Research increased their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a "sell" rating in a report on Friday, August 23rd. TD Cowen raised their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a "buy" rating in a research 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. According to MarketBeat.com, Ginkgo Bioworks has an average rating of "Hold" and a consensus price target of $4.58.

Ginkgo Bioworks Trading Down 8.6 %

The company's 50 day moving average is $8.41. The stock has a market capitalization of $542.60 million, a P/E ratio of -0.72 and a beta of 1.17.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. increased its position in Ginkgo Bioworks by 644.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company's stock valued at $263,000 after purchasing an additional 27,978 shares during the period. Verition Fund Management LLC bought a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at $792,000. Algert Global LLC acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth $36,000. Wellington Wealth Strategies LLC. bought a new position in Ginkgo Bioworks during the second quarter worth $41,000. Finally, Forbes J M & Co. LLP acquired a new position in Ginkgo Bioworks in the third quarter valued at $1,019,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.