Ginkgo Bioworks (NYSE:DNA) Trading 5% Higher – Still a Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price traded up 5% on Tuesday . The company traded as high as $9.49 and last traded at $9.37. 567,202 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,143,070 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DNA shares. TD Cowen raised their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group decreased their price objective 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. Finally, BTIG Research raised their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Three research 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, Ginkgo Bioworks presently has an average rating of “Hold” and a consensus target price of $4.16.

Ginkgo Bioworks Stock Performance

The stock has a fifty day moving average of $7.41. The company has a market cap of $20.74 billion, a PE ratio of -21.16 and a beta of 1.10.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, August 8th. The company reported ($3.20) EPS for the quarter, hitting analysts’ consensus estimates of ($3.20). The business 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 Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Paloma Partners Management Co acquired a new stake in Ginkgo Bioworks during the 1st quarter valued at approximately $28,000. First Trust Direct Indexing L.P. purchased a new position in shares of Ginkgo Bioworks during the 1st quarter valued at approximately $35,000. Algert Global LLC acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth approximately $36,000. Russell Investments Group Ltd. increased its stake in shares of Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after buying an additional 31,626 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new stake in Ginkgo Bioworks in the second quarter valued at $41,000. 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.