Renaissance Technologies LLC Acquires New Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Renaissance Technologies LLC purchased a new stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in the second quarter, according to its most recent filing with the SEC. The firm purchased 6,366,901 shares of the company’s stock, valued at approximately $2,128,000. Renaissance Technologies LLC owned 0.29% of Ginkgo Bioworks at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Paloma Partners Management Co purchased a new stake in Ginkgo Bioworks in the 1st quarter worth approximately $28,000. First Trust Direct Indexing L.P. acquired a new position in shares of Ginkgo Bioworks during the 1st quarter valued at $35,000. Russell Investments Group Ltd. lifted its holdings in Ginkgo Bioworks by 9,440.6% in the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after buying an additional 31,626 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in Ginkgo Bioworks by 125.0% in 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 in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $70,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DNA shares. The Goldman Sachs Group lowered their price objective on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research report on Tuesday, July 9th. TD Cowen increased their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, BTIG Research boosted their price target 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 analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.42.

Ginkgo Bioworks Trading Up 1.5 %

Shares of Ginkgo Bioworks stock opened at $7.72 on Thursday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $75.20. The stock has a market cap of $428.80 million, a PE ratio of -17.53 and a beta of 1.06.

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

Ginkgo Bioworks Company Profile

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.