Ginkgo Bioworks (NYSE:DNA) Shares Gap Up to $6.81

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) gapped up prior to trading on Wednesday . The stock had previously closed at $6.81, but opened at $6.95. Ginkgo Bioworks shares last traded at $6.89, with a volume of 195,981 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. BTIG Research raised their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.43.

Ginkgo Bioworks Price Performance

The company has a market cap of $15.63 billion, a PE ratio of -15.45 and a beta of 1.06. The business has a 50-day moving average of $2.73 and a 200 day moving average of $0.97.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. On average, equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Ginkgo Bioworks during the fourth quarter valued at about $24,967,000. AQR Capital Management LLC bought a new stake in Ginkgo Bioworks during the 2nd quarter valued at approximately $3,391,000. Monaco Asset Management SAM purchased a new position in Ginkgo Bioworks in the 2nd quarter worth approximately $3,276,000. Renaissance Technologies LLC bought a new position in Ginkgo Bioworks in the 2nd quarter worth approximately $2,128,000. Finally, Salem Investment Counselors Inc. grew its holdings in Ginkgo Bioworks by 110.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after buying an additional 2,499,425 shares in 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.