Ginkgo Bioworks (NYSE:DNA) Trading 5.9% Higher – Still a Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shot up 5.9% on Tuesday . The stock traded as high as $7.71 and last traded at $7.71. 326,196 shares were traded 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DNA shares. BTIG Research increased their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. TD Cowen boosted their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a research note on Tuesday, July 9th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.16.

Ginkgo Bioworks Price Performance

The stock has a market cap of $17.25 billion, a PE ratio of -17.61 and a beta of 1.10.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($3.20). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The business had revenue of $56.21 million during the quarter, compared to analyst estimates of $41.46 million. On average, research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Institutional Trading of Ginkgo Bioworks

Several institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in shares of Ginkgo Bioworks by 110.6% during the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock worth $5,520,000 after purchasing an additional 2,499,425 shares during the period. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at about $41,000. Benjamin F. Edwards & Company Inc. raised its stake in Ginkgo Bioworks by 1,606.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after acquiring an additional 221,078 shares during the period. Algert Global LLC bought a new position in Ginkgo Bioworks in the second quarter worth about $36,000. Finally, Vanguard Group Inc. boosted its position in 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 period. Institutional investors and hedge funds 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.