Ginkgo Bioworks (NYSE:DNA) Trading Up 5.9% – Should You Buy?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shot up 5.9% on Tuesday . The company traded as high as $7.71 and last traded at $7.71. 326,196 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,149,581 shares. The stock had previously closed at $7.28.

Wall Street Analyst Weigh In

DNA has been the subject of a number of recent analyst reports. BTIG Research upped their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group cut their price objective 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. Finally, TD Cowen upped their target price on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.16.

Ginkgo Bioworks Trading Up 1.3 %

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share for the quarter, meeting the consensus estimate of ($3.20). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The firm had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. On average, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -12.6 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Ginkgo Bioworks by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after purchasing an additional 463,096 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at approximately $3,391,000. Monaco Asset Management SAM purchased a new stake in Ginkgo Bioworks in the 2nd quarter valued at about $3,276,000. Renaissance Technologies LLC purchased a new position in shares of Ginkgo Bioworks during the second quarter worth $2,128,000. Finally, Salem Investment Counselors Inc. grew its position in Ginkgo Bioworks by 110.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after acquiring an additional 2,499,425 shares in the last quarter. 78.63% of the stock is currently 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.