Ginkgo Bioworks (NYSE:DNA) Trading Down 3.9% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were down 3.9% on Wednesday . The company traded as low as $9.23 and last traded at $9.35. Approximately 446,460 shares were traded during trading, a decline of 61% from the average daily volume of 1,144,170 shares. The stock had previously closed at $9.73.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BTIG Research increased their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. TD Cowen increased their target price on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.58.

Ginkgo Bioworks Stock Performance

The company’s fifty day moving average price is $8.09. The company has a market capitalization of $661.01 million, a PE ratio of -0.79 and a beta of 1.17.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $3,391,000. Monaco Asset Management SAM bought a new stake in Ginkgo Bioworks during the second quarter valued at approximately $3,276,000. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the second quarter valued at approximately $2,128,000. Cetera Investment Advisers raised its position in Ginkgo Bioworks by 2,683.7% in the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock worth $2,626,000 after acquiring an additional 2,182,773 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $312,000. 78.63% of the stock is currently owned by institutional investors.

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.