Ginkgo Bioworks (NYSE:DNA) Trading Up 9.9% – What’s Next?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) were up 9.9% during trading on Tuesday . The company traded as high as $7.55 and last traded at $7.4530. 563,050 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 1,171,593 shares. The stock had previously closed at $6.78.

Wall Street Analyst Weigh In

DNA has been the topic of several recent analyst reports. Zacks Research raised Ginkgo Bioworks to a “hold” rating in a report on Monday, August 17th. TD Cowen downgraded shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $12.00 to $9.00 in a report on Friday, August 7th. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Ginkgo Bioworks Stock Performance

The company has a market cap of $502.02 million, a PE ratio of -1.49 and a beta of 1.78. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $8.13.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.15. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DNA. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ginkgo Bioworks by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,727 shares of the company’s stock valued at $267,000 after acquiring an additional 1,122 shares during the last quarter. Shay Capital LLC increased its stake in Ginkgo Bioworks by 6.2% in the 2nd quarter. Shay Capital LLC now owns 19,382 shares of the company’s stock worth $218,000 after purchasing an additional 1,124 shares during the period. Deutsche Bank AG increased its stake in Ginkgo Bioworks by 3.5% in the 4th quarter. Deutsche Bank AG now owns 35,689 shares of the company’s stock worth $297,000 after purchasing an additional 1,207 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Ginkgo Bioworks by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 94,873 shares of the company’s stock valued at $789,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Ginkgo Bioworks during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.