Ginkgo Bioworks (NYSE:DNA) Sees Unusually-High Trading Volume

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw an uptick in trading volume on Wednesday . Approximately 1,078,044 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 1,047,190 shares.The stock last traded at $8.48 and had previously closed at $7.71.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced 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 report on Tuesday, July 9th. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Morgan Stanley cut their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. Finally, BTIG Research lowered their price objective on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research note on Wednesday, June 26th. Three research 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, the stock has a consensus rating of “Hold” and a consensus target price of $1.40.

Ginkgo Bioworks Price Performance

The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of -18.52 and a beta of 1.14. The firm has a 50 day moving average price of $0.48 and a 200-day moving average price of $0.83.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. Cerity Partners LLC grew its stake in shares of Ginkgo Bioworks by 5.3% during the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock worth $354,000 after purchasing an additional 10,472 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Ginkgo Bioworks by 32.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 62,943 shares of the company’s stock worth $106,000 after purchasing an additional 15,396 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Ginkgo Bioworks by 56.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,737,853 shares of the company’s stock valued at $2,937,000 after purchasing an additional 627,458 shares in the last quarter. Headlands Technologies LLC increased its stake in Ginkgo Bioworks by 349.5% in the fourth quarter. Headlands Technologies LLC now owns 131,505 shares of the company’s stock valued at $222,000 after purchasing an additional 102,246 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Ginkgo Bioworks by 28.2% during the fourth 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 in the last quarter. Institutional investors and hedge funds 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.