Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 97.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,448 shares of the company's stock after selling 836,539 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Ginkgo Bioworks were worth $175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in Ginkgo Bioworks during the 2nd quarter worth approximately $3,391,000. Monaco Asset Management SAM purchased a new position in Ginkgo Bioworks in the 2nd quarter worth $3,276,000. Renaissance Technologies LLC purchased a new position in Ginkgo Bioworks in the 2nd quarter worth $2,128,000. XTX Topco Ltd acquired a new stake in Ginkgo Bioworks during the 2nd quarter worth about $312,000. Finally, Mackenzie Financial Corp purchased a new stake in Ginkgo Bioworks during the 2nd quarter valued at about $251,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DNA shares. TD Cowen lifted their target price on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 20th. BTIG Research lifted their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a "sell" rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of "Hold" and an average target price of $4.58.

Ginkgo Bioworks Trading Up 15.3 %

DNA stock traded up $1.34 during trading on Friday, hitting $10.08. 3,320,731 shares of the company traded hands, compared to its average volume of 1,176,131. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.26 and a 1 year high of $74.00. The stock's 50-day moving average is $8.56. The firm has a market capitalization of $579.39 million, a P/E ratio of -0.77 and a beta of 1.17.

Ginkgo Bioworks 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.