Ginkgo Bioworks (NYSE:DNA) Shares Gap Up to $0.22

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $0.22, but opened at $0.23. Ginkgo Bioworks shares last traded at $0.23, with a volume of 38,527,707 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on DNA shares. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research report on Friday, May 10th. BTIG Research lowered their price target on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley reduced their price objective on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group cut their price target on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.40.

Ginkgo Bioworks Stock Up 6.0 %

The firm has a market capitalization of $518.99 million, a P/E ratio of -0.50 and a beta of 1.14. The firm’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $0.79.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in DNA. Spire Wealth Management bought a new position in shares of Ginkgo Bioworks during the 4th quarter valued at $25,000. Paloma Partners Management Co bought a new position in Ginkgo Bioworks in the first quarter worth about $28,000. First Trust Direct Indexing L.P. bought a new stake in shares of Ginkgo Bioworks during the first quarter valued at approximately $35,000. Algert Global LLC purchased a new position in Ginkgo Bioworks during the 2nd quarter valued at about $36,000. Finally, Russell Investments Group Ltd. boosted its position in shares of 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 purchasing an additional 31,626 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

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.