Ginkgo Bioworks (NYSE:DNA) Trading Down 3.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) fell 3.8% during mid-day trading on Thursday . The stock traded as low as $8.84 and last traded at $8.96. 45,151 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,055,596 shares. The stock had previously closed at $9.31.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DNA shares. The Goldman Sachs Group cut their target price on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. BTIG Research raised their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Morgan Stanley reduced their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.76.

Ginkgo Bioworks Trading Down 1.9 %

The firm has a 50 day simple moving average of $0.97 and a two-hundred day simple moving average of $0.99. The company has a market capitalization of $18.01 billion, a PE ratio of -18.51 and a beta of 1.14.

Hedge Funds Weigh In On Ginkgo Bioworks

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

About Ginkgo Bioworks

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.