Wellington Wealth Strategies LLC. Makes New Investment in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Wellington Wealth Strategies LLC. bought a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 122,718 shares of the company's stock, valued at approximately $41,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paloma Partners Management Co bought a new position in shares of Ginkgo Bioworks in the 1st quarter worth approximately $28,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks in the first quarter worth approximately $35,000. Algert Global LLC purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $36,000. Russell Investments Group Ltd. grew its position in shares of Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company's stock valued at $37,000 after acquiring an additional 31,626 shares during the period. Finally, Smith Salley Wealth Management increased its stake in shares of Ginkgo Bioworks by 125.0% in the 1st quarter. Smith Salley Wealth Management now owns 54,000 shares of the company's stock worth $63,000 after purchasing an additional 30,000 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on DNA. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a "sell" rating on the stock in a research report on Tuesday, July 9th. TD Cowen lifted 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. Finally, BTIG Research upped their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a "sell" rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Ginkgo Bioworks currently has a consensus rating of "Hold" and an average price target of $3.42.

Ginkgo Bioworks Trading Up 0.9 %

DNA traded up $0.07 on Monday, hitting $8.17. 835,588 shares of the company's stock traded hands, compared to its average volume of 1,171,344. Ginkgo Bioworks Holdings, Inc. has a one year low of $5.26 and a one year high of $75.20. The company has a market capitalization of $18.06 billion, a PE ratio of -18.52 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The company had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. Equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 earnings per share for the current year.

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.