Wellington Wealth Strategies LLC. Invests $41,000 in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Wellington Wealth Strategies LLC. bought a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in the 2nd quarter, Holdings Channel.com reports. The fund bought 122,718 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Paloma Partners Management Co purchased a new stake in Ginkgo Bioworks in the first quarter valued at approximately $28,000. First Trust Direct Indexing L.P. acquired a new position in shares of Ginkgo Bioworks in the 1st quarter valued at $35,000. Algert Global LLC acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $36,000. Russell Investments Group Ltd. grew its stake in shares of Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after buying an additional 31,626 shares during the period. Finally, Smith Salley Wealth Management increased its holdings in shares of Ginkgo Bioworks by 125.0% during the 1st quarter. Smith Salley Wealth Management now owns 54,000 shares of the company’s stock worth $63,000 after buying an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on 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 raised their price objective on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Finally, TD Cowen boosted their target price on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. 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.com, the company currently has a consensus rating of “Hold” and an average target price of $3.42.

Ginkgo Bioworks Stock Performance

DNA opened at $8.09 on Monday. The firm has a market capitalization of $17.89 billion, a P/E ratio of -18.39 and a beta of 1.06. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $5.26 and a 12-month high of $75.20.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data 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 return on equity of 63.09% and a negative net margin of 486.98%. The firm had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. As a group, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current fiscal year.

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.