Ginkgo Bioworks (NYSE:DNA) PT Raised to $10.00

Ginkgo Bioworks (NYSE:DNA) had its price objective raised by equities research analysts at TD Cowen from $3.00 to $10.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 24.84% from the stock’s previous close.

Several other research firms have also commented on DNA. The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research note on Tuesday, July 9th. BTIG Research upped their price objective on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ginkgo Bioworks has a consensus rating of “Hold” and an average target price of $3.42.

Ginkgo Bioworks Trading Down 3.6 %

Shares of DNA opened at $8.01 on Friday. The firm has a market cap of $17.71 billion, a PE ratio of -18.20 and a beta of 1.06. The firm has a fifty day simple moving average of $3.20 and a two-hundred day simple moving average of $1.13. Ginkgo Bioworks has a 1-year low of $5.26 and a 1-year high of $82.80.

Ginkgo Bioworks (NYSE:DNA) last announced 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 business 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%. As a group, research analysts forecast that Ginkgo Bioworks will post -12.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of the business. Wellington Wealth Strategies LLC. purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth $41,000. Algert Global LLC purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth $36,000. Mackenzie Financial Corp purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth $251,000. AQR Capital Management LLC purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth $3,391,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake 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 buying an additional 221,078 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.