Ginkgo Bioworks (NYSE:DNA) Price Target Raised to $7.00 at BTIG Research

Ginkgo Bioworks (NYSE:DNA) had its price target upped by BTIG Research from $0.20 to $7.00 in a research report released on Friday morning, Benzinga reports. BTIG Research currently has a sell rating on the stock.

Several other analysts also recently weighed in on the company. William Blair downgraded Ginkgo Bioworks from a market perform rating to an underperform rating in a research note on Friday, May 10th. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $0.80 to $0.30 and set a sell rating for the company in a research note on Tuesday, July 9th. Finally, Morgan Stanley cut their target price on 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. 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 stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $2.76.

Ginkgo Bioworks Trading Down 1.9 %

DNA opened at $8.15 on Friday. Ginkgo Bioworks has a twelve month low of $7.29 and a twelve month high of $98.60. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of -18.51 and a beta of 1.14. The company has a fifty day simple moving average of $0.97 and a 200 day simple moving average of $0.99.

Institutional Trading of Ginkgo Bioworks

Several institutional investors and hedge funds have recently bought and sold shares of DNA. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at approximately $41,000. Algert Global LLC bought a new stake in Ginkgo Bioworks during the second quarter valued at $36,000. Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth $251,000. AQR Capital Management LLC bought a new position in shares of Ginkgo Bioworks in the 2nd quarter worth about $3,391,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Ginkgo Bioworks by 1,606.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock valued at $79,000 after buying an additional 221,078 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.