Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Sees Significant Growth in Short Interest

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 8,190,000 shares, a growth of 29.0% from the September 15th total of 6,350,000 shares. Approximately 23.1% of the shares of the stock are sold short. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is presently 5.5 days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DNA shares. TD Cowen upped their price target on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. The Goldman Sachs Group lowered their target price on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, BTIG Research increased their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.16.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently made changes to their positions in DNA. AQR Capital Management LLC bought a new stake in Ginkgo Bioworks during the second quarter valued at about $3,391,000. Monaco Asset Management SAM bought a new stake in Ginkgo Bioworks during the second quarter valued at about $3,276,000. Renaissance Technologies LLC bought a new stake in Ginkgo Bioworks during the second quarter valued at about $2,128,000. Salem Investment Counselors Inc. boosted its position in Ginkgo Bioworks by 110.6% during the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after purchasing an additional 2,499,425 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Ginkgo Bioworks by 2,683.7% during the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock valued at $2,626,000 after purchasing an additional 2,182,773 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Performance

NYSE:DNA traded up $0.52 during midday trading on Tuesday, hitting $7.80. 848,435 shares of the company traded hands, compared to its average volume of 1,152,206. Ginkgo Bioworks has a 12-month low of $5.26 and a 12-month high of $75.20. The firm has a market capitalization of $17.25 billion, a PE ratio of -17.73 and a beta of 1.10.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share for the quarter, hitting 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. Equities analysts forecast that Ginkgo Bioworks will post -12.6 EPS for the current year.

Ginkgo Bioworks Company Profile

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.