Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report)’s share price fell 9.1% during trading on Friday . The company traded as low as $9.98 and last traded at $10.10. 130,204 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,243,018 shares. The stock had previously closed at $11.11.
Wall Street Analysts Forecast Growth
Separately, TD Cowen boosted 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. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.58.
Get Our Latest Research Report on Ginkgo Bioworks
Ginkgo Bioworks Trading Down 12.1 %
Hedge Funds Weigh In On Ginkgo Bioworks
Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in Ginkgo Bioworks in the third quarter valued at about $2,282,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Ginkgo Bioworks by 644.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company’s stock valued at $263,000 after purchasing an additional 27,978 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $4,075,000. PDT Partners LLC purchased a new position in shares of Ginkgo Bioworks in the third quarter worth approximately $1,199,000. Finally, Verition Fund Management LLC bought a new stake in Ginkgo Bioworks during the third quarter valued at approximately $792,000. 78.63% of the stock is owned by institutional investors.
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.
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