Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $8.56, but opened at $9.15. Ginkgo Bioworks shares last traded at $9.82, with a volume of 318,456 shares changing hands.
Analysts Set New Price Targets
Separately, TD Cowen increased their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Ginkgo Bioworks has a consensus rating of "Hold" and an average target price of $4.58.
Read Our Latest Report on DNA
Ginkgo Bioworks Price Performance
The firm has a 50 day simple moving average of $9.25. The stock has a market cap of $621.65 million, a price-to-earnings ratio of -0.83 and a beta of 1.09.
Institutional Investors Weigh In On Ginkgo Bioworks
A number of hedge funds have recently bought and sold shares of the company. Algert Global LLC bought a new stake in Ginkgo Bioworks during the 2nd quarter valued at approximately $36,000. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks in the second quarter valued at approximately $41,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Ginkgo Bioworks in the second quarter worth $70,000. Benjamin F. Edwards & Company Inc. increased its position in Ginkgo Bioworks by 1,606.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company's stock worth $79,000 after acquiring an additional 221,078 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Ginkgo Bioworks during the 4th quarter valued at $199,000. 78.63% of the stock is currently owned by institutional investors.
About Ginkgo Bioworks
(
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.
Further Reading
Before you consider Ginkgo Bioworks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ginkgo Bioworks wasn't on the list.
While Ginkgo Bioworks currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
