US Bancorp DE reduced its stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 97.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,336 shares of the company's stock after selling 183,450 shares during the quarter. US Bancorp DE's holdings in Ginkgo Bioworks were worth $35,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Paloma Partners Management Co purchased a new stake in shares of Ginkgo Bioworks in the first quarter valued at approximately $28,000. Algert Global LLC purchased a new stake in shares of Ginkgo Bioworks in the second quarter valued at approximately $36,000. Russell Investments Group Ltd. boosted its stake in shares of Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company's stock valued at $37,000 after buying an additional 31,626 shares in the last quarter. Wellington Wealth Strategies LLC. acquired a new position in Ginkgo Bioworks during the second quarter worth $41,000. Finally, Thoroughbred Financial Services LLC acquired a new position in Ginkgo Bioworks during the second quarter worth $70,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on DNA shares. TD Cowen lifted their price objective 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 Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a "sell" rating in a report on Friday, August 23rd. Three research 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. Based on data from MarketBeat.com, Ginkgo Bioworks currently has an average rating of "Hold" and a consensus price target of $4.58.
Check Out Our Latest Stock Report on DNA
Ginkgo Bioworks Stock Up 1.9 %
Shares of NYSE DNA traded up $0.12 during trading on Tuesday, reaching $6.45. The company had a trading volume of 1,310,969 shares, compared to its average volume of 1,152,832. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $75.20. The stock has a market capitalization of $358.46 million, a PE ratio of -0.49 and a beta of 1.09. The business's 50-day simple moving average is $7.81.
About Ginkgo Bioworks
(
Free Report)
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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