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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DNA shares. The Goldman Sachs Group cut their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research report on Tuesday, July 9th. BTIG Research raised their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Ginkgo Bioworks has an average rating of “Hold” and an average price target of $1.43.

Ginkgo Bioworks Stock Performance

The stock’s fifty day moving average is $2.73 and its 200 day moving average is $0.97. The stock has a market cap of $15.63 billion, a P/E ratio of -15.45 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 return on equity of 63.09% and a negative net margin of 486.98%. Equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Ginkgo Bioworks by 28.2% in the 4th quarter. Victory Capital Management Inc. now owns 178,165 shares of the company’s stock worth $301,000 after purchasing an additional 39,171 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Ginkgo Bioworks by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,661,303 shares of the company’s stock worth $12,948,000 after buying an additional 242,906 shares during the period. Brown Advisory Inc. lifted its stake in shares of Ginkgo Bioworks by 17.2% during the 4th quarter. Brown Advisory Inc. now owns 239,425 shares of the company’s stock worth $405,000 after acquiring an additional 35,182 shares during the last quarter. Norges Bank purchased a new position in Ginkgo Bioworks during the 4th quarter valued at $24,967,000. Finally, AXS Investments LLC grew its position in Ginkgo Bioworks by 32.3% in the 4th quarter. AXS Investments LLC now owns 352,381 shares of the company’s stock valued at $596,000 after acquiring an additional 85,978 shares during 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.