Ginkgo Bioworks (NYSE:DNA) Shares Gap Up to $6.81

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $6.81, but opened at $6.95. Ginkgo Bioworks shares last traded at $6.89, with a volume of 195,981 shares traded.

Analyst Ratings Changes

A number of research firms have commented on DNA. BTIG Research lifted their price objective 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 shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a report on Tuesday, July 9th. Three research 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, the company presently has a consensus rating of “Hold” and an average target price of $1.43.

Ginkgo Bioworks Stock Up 12.3 %

The company has a market capitalization of $462.43 million, a P/E ratio of -18.91 and a beta of 1.06. The business has a 50 day simple moving average of $3.04 and a 200-day simple moving average of $1.07.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. Equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently added to or reduced their stakes in DNA. Vanguard Group Inc. raised its stake in shares of Ginkgo Bioworks by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after purchasing an additional 463,096 shares in the last quarter. Norges Bank bought a new stake in shares of Ginkgo Bioworks during the fourth quarter valued at about $24,967,000. AQR Capital Management LLC bought a new stake in shares of Ginkgo Bioworks during the second quarter valued at about $3,391,000. Monaco Asset Management SAM bought a new stake in shares of Ginkgo Bioworks during the second quarter valued at about $3,276,000. Finally, Lingotto Investment Management LLP raised its stake in shares of Ginkgo Bioworks by 34.9% during the fourth quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock valued at $14,384,000 after purchasing an additional 2,200,000 shares in 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.