Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Shares Sold by Tao Capital Management LP

Tao Capital Management LP trimmed its position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 97.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,683 shares of the company’s stock after selling 221,671 shares during the quarter. Ginkgo Bioworks comprises 0.0% of Tao Capital Management LP’s investment portfolio, making the stock its 10th biggest position. Tao Capital Management LP’s holdings in Ginkgo Bioworks were worth $46,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Paloma Partners Management Co acquired a new position in Ginkgo Bioworks in the first quarter valued at approximately $28,000. Algert Global LLC purchased a new stake in Ginkgo Bioworks in the second quarter valued at $36,000. Russell Investments Group Ltd. lifted its stake in shares of Ginkgo Bioworks by 9,440.6% in the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after purchasing an additional 31,626 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $41,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth about $70,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on DNA shares. TD Cowen upped their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, September 20th. BTIG Research upped their price objective 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. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.58.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $6.45 on Wednesday. The firm has a market cap of $358.46 million, a P/E ratio of -0.49 and a beta of 1.09. The firm has a 50-day moving average price of $7.81. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $5.26 and a 1-year high of $75.20.

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.