Ginkgo Bioworks (NYSE:DNA) Trading 8.3% Higher

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares traded up 8.3% on Tuesday . The company traded as high as $6.75 and last traded at $6.75. 244,820 shares traded hands during trading, a decline of 78% from the average session volume of 1,119,742 shares. The stock had previously closed at $6.23.

Analysts Set New Price Targets

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

Ginkgo Bioworks Trading Up 12.4 %

The firm’s 50-day simple moving average is $2.59 and its two-hundred day simple moving average is $0.93. The company has a market cap of $15.48 billion, a PE ratio of -15.34 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last issued its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company 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%. As a group, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Wellington Wealth Strategies LLC. purchased a new stake in Ginkgo Bioworks in the second quarter valued at $41,000. Algert Global LLC purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at approximately $36,000. Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at about $251,000. AQR Capital Management LLC purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $3,391,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings 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 purchasing an additional 221,078 shares during the period. 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.