Ginkgo Bioworks (NYSE:DNA) PT Raised to $10.00

Ginkgo Bioworks (NYSE:DNA) had its price target lifted by equities researchers at TD Cowen from $3.00 to $10.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 26.74% from the company’s current price.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a report on Tuesday, July 9th. BTIG Research increased their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.42.

Ginkgo Bioworks Trading Down 5.1 %

Ginkgo Bioworks stock traded down $0.42 during midday trading on Friday, hitting $7.89. The stock had a trading volume of 1,047,322 shares, compared to its average volume of 1,156,559. Ginkgo Bioworks has a 52-week low of $5.26 and a 52-week high of $82.80. The company has a market capitalization of $17.45 billion, a PE ratio of -17.91 and a beta of 1.06. The firm’s fifty day moving average is $3.04 and its two-hundred day moving average is $1.07.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The business had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. As a group, equities research analysts predict that Ginkgo Bioworks will post -12.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently added to or reduced their stakes in the stock. Wellington Wealth Strategies LLC. bought a new stake in Ginkgo Bioworks in the second quarter worth $41,000. Algert Global LLC purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth about $36,000. Mackenzie Financial Corp purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth about $251,000. AQR Capital Management LLC bought a new position in Ginkgo Bioworks during the 2nd quarter valued at about $3,391,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Ginkgo Bioworks by 1,606.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after purchasing an additional 221,078 shares during the period. 78.63% of the stock is 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.