Ginkgo Bioworks (NYSE:DNA) Stock Price Up 7.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price shot up 7.7% during trading on Tuesday . The stock traded as high as $0.29 and last traded at $0.28. 7,988,673 shares traded hands during trading, a decline of 80% from the average session volume of 40,577,492 shares. The stock had previously closed at $0.26.

Analysts Set New Price Targets

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

Ginkgo Bioworks Stock Up 4.9 %

The company has a market capitalization of $561.44 million, a PE ratio of -0.57 and a beta of 1.14. The firm has a 50-day moving average of $0.35 and a two-hundred day moving average of $0.81.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors have recently made changes to their positions in DNA. Spire Wealth Management purchased a new position in Ginkgo Bioworks in the fourth quarter valued at $25,000. Paloma Partners Management Co purchased a new position in shares of Ginkgo Bioworks in the 1st quarter valued at about $28,000. First Trust Direct Indexing L.P. acquired a new position in Ginkgo Bioworks in the 1st quarter worth about $35,000. Russell Investments Group Ltd. boosted its position in Ginkgo Bioworks by 9,440.6% during the first 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. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $50,000. 78.63% of the stock is owned by hedge funds and other 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.