Ginkgo Bioworks (NYSE:DNA) Trading Up 6.4% – Time to Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) traded up 6.4% during trading on Tuesday . The company traded as high as $10.15 and last traded at $10.04. 276,353 shares traded hands during trading, a decline of 76% from the average session volume of 1,170,880 shares. The stock had previously closed at $9.44.

Wall Street Analyst Weigh In

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

Ginkgo Bioworks Stock Up 2.2 %

The stock’s fifty day moving average price is $8.72. The stock has a market cap of $554.67 million, a P/E ratio of -0.74 and a beta of 1.17.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at about $36,000. Wellington Wealth Strategies LLC. bought a new position in Ginkgo Bioworks in the 2nd quarter valued at $41,000. Thoroughbred Financial Services LLC acquired a new position in Ginkgo Bioworks in the second quarter worth $70,000. 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 worth $77,000 after purchasing an additional 143,100 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Ginkgo Bioworks by 1,606.9% in the second 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 last quarter. 78.63% of the stock is currently owned by institutional investors.

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.