Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $0.22, but opened at $0.23. Ginkgo Bioworks shares last traded at $0.23, with a volume of 38,527,707 shares.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 15th. The Goldman Sachs Group dropped their target price on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a "sell" rating on the stock in a report on Tuesday, July 9th. William Blair lowered Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a research report on Friday, May 10th. Finally, BTIG Research cut their target price on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a "sell" rating on the stock in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $1.40.
Read Our Latest Report on DNA
Ginkgo Bioworks Trading Up 6.0 %
The company's fifty day moving average is $0.34 and its 200-day moving average is $0.79. The firm has a market capitalization of $519.21 million, a P/E ratio of -0.53 and a beta of 1.14.
Hedge Funds Weigh In On Ginkgo Bioworks
Several large investors have recently made changes to their positions in DNA. Spire Wealth Management bought a new position in Ginkgo Bioworks in the 4th quarter worth approximately $25,000. Paloma Partners Management Co acquired a new position in Ginkgo Bioworks during the 1st quarter valued at $28,000. Pine Valley Investments Ltd Liability Co bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $50,000. First Trust Direct Indexing L.P. acquired a new stake in Ginkgo Bioworks in the 1st quarter worth $35,000. Finally, National Bank of Canada FI increased its holdings in shares of Ginkgo Bioworks by 142.0% during the 4th quarter. National Bank of Canada FI now owns 30,672 shares of the company's stock worth $51,000 after purchasing an additional 18,000 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.
About Ginkgo Bioworks
(
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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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