Ginkgo Bioworks (NYSE:DNA) Trading 6% Higher – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares rose 6% on Tuesday . The stock traded as high as $11.48 and last traded at $11.34. Approximately 641,334 shares were traded during trading, a decline of 45% from the average daily volume of 1,158,501 shares. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DNA. TD Cowen upped their price objective on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. BTIG Research increased their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus target price of $4.58.

Ginkgo Bioworks Stock Performance

The firm has a market cap of $615.03 million, a P/E ratio of -0.82 and a beta of 1.17. The business’s fifty day moving average price is $8.34.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in DNA. Algert Global LLC acquired a new position in Ginkgo Bioworks during the 2nd quarter worth approximately $36,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Ginkgo Bioworks during the second quarter worth $41,000. Thoroughbred Financial Services LLC purchased a new position in shares of Ginkgo Bioworks in the second quarter valued at $70,000. Pine Valley Investments Ltd Liability Co grew its holdings in Ginkgo Bioworks by 653.7% during the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock valued at $74,000 after purchasing an additional 191,336 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its position in Ginkgo Bioworks by 162.6% in the 2nd quarter. North Star Asset Management Inc. now owns 231,100 shares of the company’s stock valued at $77,000 after buying an additional 143,100 shares during the last quarter. 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.