Ginkgo Bioworks (NYSE:DNA) Shares Up 9.1% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was up 9.1% during mid-day trading on Thursday . The company traded as high as $9.93 and last traded at $10.15. Approximately 419,392 shares traded hands during trading, a decline of 68% from the average daily volume of 1,321,163 shares. The stock had previously closed at $9.30.

Analyst Upgrades and Downgrades

Separately, TD Cowen upped their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.58.

Ginkgo Bioworks Trading Up 6.0 %

The company has a market cap of $621.64 million, a P/E ratio of -0.83 and a beta of 1.09. The company’s fifty day moving average is $9.30.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC bought a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $36,000. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $41,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Ginkgo Bioworks by 1,606.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock valued at $79,000 after buying an additional 221,078 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ginkgo Bioworks in the fourth quarter valued at $199,000. Finally, Mackenzie Financial Corp bought a new position in shares of Ginkgo Bioworks in the second quarter valued at $251,000. Institutional investors own 78.63% of the company’s stock.

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.