Ginkgo Bioworks (NYSE:DNA) Trading Up 10.4% – Should You Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were up 10.4% during mid-day trading on Thursday . The stock traded as high as $7.78 and last traded at $7.7920. Approximately 408,235 shares changed hands during trading, a decline of 65% from the average daily volume of 1,157,005 shares. The stock had previously closed at $7.06.

Analysts Set New Price Targets

A number of research firms recently commented on DNA. BTIG Research reiterated a “sell” rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a research note on Friday, September 4th. TD Cowen lowered shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Wall Street Zen cut shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Oppenheimer set a $5.00 price target on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Reduce” and a consensus price target of $6.33.

Ginkgo Bioworks Stock Up 0.5%

The stock has a market capitalization of $530.57 million, a PE ratio of -1.57 and a beta of 1.76. The firm has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.87.

Ginkgo Bioworks (NYSE:DNA) last issued its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%.The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In other news, Director Christian Henry sold 5,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total value of $35,400.00. Following the sale, the director owned 19,310 shares in the company, valued at $136,714.80. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in DNA. Northwestern Mutual Wealth Management Co. raised its position in Ginkgo Bioworks by 28,457.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock valued at $1,901,000 after purchasing an additional 227,943 shares during the period. UBS Group AG grew its holdings in shares of Ginkgo Bioworks by 86.4% during the 4th quarter. UBS Group AG now owns 489,418 shares of the company’s stock worth $4,067,000 after purchasing an additional 226,861 shares during the period. Balance Capital Partners L.P. acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth about $1,972,179. Renaissance Technologies LLC acquired a new stake in shares of Ginkgo Bioworks during the 1st quarter worth about $616,000. Finally, Inspire Investing LLC increased its position in shares of Ginkgo Bioworks by 46.4% during the 1st quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock worth $514,000 after purchasing an additional 26,612 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.