Ginkgo Bioworks (NYSE:DNA) Trading Up 8.3%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price traded up 8.3% during trading on Tuesday . The stock traded as high as $6.75 and last traded at $6.75. 244,820 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,119,742 shares. The stock had previously closed at $6.23.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DNA. The Goldman Sachs Group decreased their target price on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. BTIG Research lifted their price objective 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. 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, the stock presently has a consensus rating of “Hold” and an average target price of $1.43.

Ginkgo Bioworks Stock Performance

The firm has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $0.93. The firm has a market cap of $15.48 billion, a PE ratio of -15.34 and a beta of 1.06.

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

Institutional Investors Weigh In On Ginkgo Bioworks

Large investors have recently added to or reduced their stakes in the stock. Wellington Wealth Strategies LLC. purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $41,000. Algert Global LLC bought a new position in Ginkgo Bioworks during the second quarter valued at $36,000. Mackenzie Financial Corp bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $251,000. AQR Capital Management LLC bought a new position in Ginkgo Bioworks during the 2nd quarter valued at about $3,391,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Ginkgo Bioworks by 1,606.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after purchasing an additional 221,078 shares during the period. 78.63% of the stock is owned by institutional investors.

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.