Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Consensus Recommendation of “Reduce” from Brokerages

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has been assigned a consensus rating of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.16.

DNA has been the topic of a number of analyst reports. TD Cowen lifted 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. BTIG Research upped their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research report on Friday, August 23rd.

Ginkgo Bioworks Stock Performance

Shares of DNA opened at $8.36 on Wednesday. The company has a market cap of $464.61 million, a PE ratio of -0.45 and a beta of 1.09. Ginkgo Bioworks has a 52 week low of $5.26 and a 52 week high of $75.20. The stock has a 50 day moving average of $7.70.

Institutional Trading of Ginkgo Bioworks

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in shares of Ginkgo Bioworks by 20.2% in the first quarter. Principal Financial Group Inc. now owns 132,302 shares of the company’s stock worth $153,000 after purchasing an additional 22,201 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Ginkgo Bioworks during the first quarter worth $28,000. Swiss National Bank grew its position in Ginkgo Bioworks by 1.4% during the 1st quarter. Swiss National Bank now owns 2,078,500 shares of the company’s stock worth $2,411,000 after purchasing an additional 27,700 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Ginkgo Bioworks in the 1st quarter valued at about $35,000. Finally, Russell Investments Group Ltd. lifted its holdings in Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after acquiring an additional 31,626 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.