Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Average Recommendation of “Reduce” from Analysts

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) have been assigned an average rating of “Reduce” from the six analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.42.

Several research firms recently commented on DNA. TD Cowen upped their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Finally, BTIG Research upped their price target 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.

Ginkgo Bioworks Price Performance

NYSE:DNA opened at $7.84 on Tuesday. Ginkgo Bioworks has a one year low of $5.26 and a one year high of $82.80. The company has a market cap of $17.34 billion, a P/E ratio of -17.82 and a beta of 1.06. The firm’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $1.19.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The firm had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. As a group, equities research analysts expect that Ginkgo Bioworks will post -12.6 earnings per share for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently bought and sold shares of the company. Paloma Partners Management Co bought a new stake in Ginkgo Bioworks during the first quarter worth about $28,000. Pine Valley Investments Ltd Liability Co bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth about $50,000. First Trust Direct Indexing L.P. bought a new position in shares of Ginkgo Bioworks in the first quarter worth about $35,000. National Bank of Canada FI lifted its holdings in shares of Ginkgo Bioworks by 142.0% in the fourth quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock worth $51,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 31,626 shares during the last quarter. 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.