Ginkgo Bioworks (NYSE:DNA) Trading Up 6.5% - Still a Buy?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) rose 6.5% during trading on Tuesday . The stock traded as high as $12.75 and last traded at $12.41. Approximately 263,036 shares traded hands during trading, a decline of 77% from the average daily volume of 1,162,800 shares. The stock had previously closed at $11.65.

Analysts Set New Price Targets

Separately, TD Cowen lifted 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 assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.58.

Ginkgo Bioworks Stock Down 3.3 %

The business's fifty day simple moving average is $8.99. The company has a market capitalization of $647.21 million, a price-to-earnings ratio of -0.86 and a beta of 1.09.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently bought and sold shares of the company. Wellington Wealth Strategies LLC. purchased a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $41,000. PDT Partners LLC purchased a new position in Ginkgo Bioworks in the 3rd quarter valued at $1,199,000. Erste Asset Management GmbH acquired a new stake in Ginkgo Bioworks during the 3rd quarter worth $4,075,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Ginkgo Bioworks during the third quarter worth $2,282,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of 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 buying an additional 221,078 shares during the last quarter. 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.