Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) dropped 6.6% on Monday . The company traded as low as $9.40 and last traded at $9.41. Approximately 503,400 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,172,997 shares. The stock had previously closed at $10.08.
Wall Street Analyst Weigh In
Separately, TD Cowen boosted their price target on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of "Hold" and a consensus price target of $4.58.
Check Out Our Latest Stock Report on Ginkgo Bioworks
Ginkgo Bioworks Trading Down 6.2 %
The company has a market capitalization of $543.75 million, a PE ratio of -0.72 and a beta of 1.17. The stock has a 50 day moving average price of $8.60.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in DNA. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at approximately $2,282,000. Point72 Asia Singapore Pte. Ltd. grew its position in Ginkgo Bioworks by 644.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company's stock worth $263,000 after acquiring an additional 27,978 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Ginkgo Bioworks during the 3rd quarter worth $4,075,000. PDT Partners LLC bought a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at $1,199,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at $792,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Ginkgo Bioworks Company Profile
(
Get Free Report)
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.
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