Ginkgo Bioworks (NYSE:DNA) Shares Up 4.1% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price rose 4.1% on Friday . The company traded as high as $9.13 and last traded at $9.10. Approximately 84,320 shares traded hands during trading, a decline of 93% from the average daily volume of 1,162,774 shares. The stock had previously closed at $8.74.

Wall Street Analysts Forecast Growth

Separately, TD Cowen boosted their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and an average target price of $4.58.

Ginkgo Bioworks Price Performance

The firm has a market cap of $579.39 million, a price-to-earnings ratio of -0.77 and a beta of 1.17. The business has a fifty day moving average of $8.56.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Ginkgo Bioworks by 653.7% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock worth $74,000 after purchasing an additional 191,336 shares in the last quarter. North Star Asset Management Inc. grew its holdings in shares of Ginkgo Bioworks by 162.6% during the second quarter. North Star Asset Management Inc. now owns 231,100 shares of the company’s stock valued at $77,000 after buying an additional 143,100 shares during the last quarter. Monaco Asset Management SAM bought a new stake in shares of Ginkgo Bioworks during the second quarter worth about $3,276,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $70,000. Finally, Renaissance Technologies LLC bought a new position in Ginkgo Bioworks in the 2nd quarter valued at about $2,128,000. Institutional investors own 78.63% of the company’s stock.

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.