Thoroughbred Financial Services LLC Takes Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Thoroughbred Financial Services LLC acquired a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 210,000 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DNA. Paloma Partners Management Co acquired a new position in shares of Ginkgo Bioworks during the first quarter worth $28,000. First Trust Direct Indexing L.P. acquired a new position in Ginkgo Bioworks in the 1st quarter worth about $35,000. Russell Investments Group Ltd. boosted its stake in shares of Ginkgo Bioworks by 9,440.6% during the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after purchasing an additional 31,626 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Ginkgo Bioworks during the fourth quarter worth about $50,000. Finally, Smith Salley Wealth Management increased its stake in shares of Ginkgo Bioworks by 125.0% in the first quarter. Smith Salley Wealth Management now owns 54,000 shares of the company’s stock valued at $63,000 after buying an additional 30,000 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DNA. BTIG Research boosted their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group decreased their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.43.

Ginkgo Bioworks Stock Performance

Shares of NYSE DNA opened at $7.38 on Thursday. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.26 and a 52-week high of $82.80. The company’s 50 day moving average price is $2.87 and its 200-day moving average price is $1.02. The company has a market capitalization of $16.32 billion, a P/E ratio of -16.77 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The business had revenue of $56.21 million for the quarter, compared to analyst estimates of $41.46 million. Analysts forecast 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.