Ginkgo Bioworks (NYSE:DNA) Shares Up 5% – Should You Buy?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) rose 5% during mid-day trading on Tuesday . The company traded as high as $9.49 and last traded at $9.37. Approximately 567,202 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,143,070 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

DNA has been the subject of a number of recent analyst reports. TD Cowen upped their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group cut their price target on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Finally, BTIG Research boosted their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.16.

Ginkgo Bioworks Stock Down 11.8 %

The business has a 50 day simple moving average of $7.49. The company has a market capitalization of $443.53 million, a PE ratio of -0.46 and a beta of 1.10.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($3.20). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The business had revenue of $56.21 million for the quarter, compared to analyst estimates of $41.46 million. As a group, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Ginkgo Bioworks by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after acquiring an additional 463,096 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Ginkgo Bioworks by 63.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 189,646 shares of the company’s stock worth $321,000 after purchasing an additional 73,843 shares during the last quarter. Quattro Financial Advisors LLC raised its stake in shares of Ginkgo Bioworks by 8,749,900.0% during the 1st quarter. Quattro Financial Advisors LLC now owns 175,000 shares of the company’s stock worth $203,000 after purchasing an additional 174,998 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of Ginkgo Bioworks in the 1st quarter valued at approximately $35,000. Finally, Principal Financial Group Inc. grew its stake in shares of Ginkgo Bioworks by 20.2% in the first quarter. Principal Financial Group Inc. now owns 132,302 shares of the company’s stock valued at $153,000 after buying an additional 22,201 shares in 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.