Ginkgo Bioworks (NYSE:DNA) Stock Price Up 6% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price traded up 6% during mid-day trading on Tuesday . The stock traded as high as $11.48 and last traded at $11.34. 641,334 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,158,501 shares. The stock had previously closed at $10.70.

Analysts Set New Price Targets

DNA has been the subject of several recent research reports. BTIG Research raised their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. TD Cowen lifted their price objective on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and a consensus price target of $4.58.

Ginkgo Bioworks Price Performance

The company’s 50 day moving average is $8.22. The company has a market capitalization of $633.99 million, a price-to-earnings ratio of -0.82 and a beta of 1.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNA. AQR Capital Management LLC acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $3,391,000. Monaco Asset Management SAM acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $3,276,000. Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $2,128,000. Cetera Investment Advisers boosted its holdings in shares of Ginkgo Bioworks by 2,683.7% in the 1st quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock valued at $2,626,000 after buying an additional 2,182,773 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $312,000. 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.