Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Average Rating of “Reduce” by Brokerages

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) have been assigned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat Ratings reports. 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 company. The average 12-month target price among analysts that have covered the stock in the last year is $4.16.

DNA has been the subject of a number of recent research reports. TD Cowen boosted their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group decreased their target price on shares of 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 lifted their price target 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position 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 during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Ginkgo Bioworks by 63.8% in the fourth 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. Green Alpha Advisors LLC raised its stake in shares of Ginkgo Bioworks by 47.5% in the first quarter. Green Alpha Advisors LLC now owns 297,637 shares of the company’s stock worth $345,000 after purchasing an additional 95,842 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Ginkgo Bioworks by 110.6% in the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after buying an additional 2,499,425 shares during the last quarter. Finally, Quattro Financial Advisors LLC increased its holdings in Ginkgo Bioworks by 8,749,900.0% in the 1st quarter. Quattro Financial Advisors LLC now owns 175,000 shares of the company’s stock worth $203,000 after buying an additional 174,998 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Performance

NYSE:DNA opened at $8.89 on Friday. The firm has a 50-day simple moving average of $7.37. Ginkgo Bioworks has a one year low of $5.26 and a one year high of $75.20. The company has a market cap of $19.65 billion, a price-to-earnings ratio of -20.19 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 the consensus estimate of ($3.20). The business had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. Sell-side analysts expect that Ginkgo Bioworks will post -12.6 EPS for the current fiscal year.

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.