Ginkgo Bioworks (NYSE:DNA) Stock Price Down 9.1% - What's Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price fell 9.1% on Friday . The stock traded as low as $9.98 and last traded at $10.10. 130,204 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,243,018 shares. The stock had previously closed at $11.11.

Analyst Ratings Changes

Separately, TD Cowen increased their price target 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 research 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.58.

Ginkgo Bioworks Stock Down 12.1 %

The company has a fifty day moving average of $9.12. The firm has a market capitalization of $561.57 million, a P/E ratio of -0.75 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Ginkgo Bioworks by 644.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company's stock worth $263,000 after purchasing an additional 27,978 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $792,000. Algert Global LLC acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $36,000. Wellington Wealth Strategies LLC. acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $41,000. Finally, Forbes J M & Co. LLP acquired a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $1,019,000. 78.63% of the stock is owned by institutional investors.

Ginkgo Bioworks Company Profile

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.