Short Interest in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Decreases By 96.9%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 3,840,000 shares, a decrease of 96.9% from the July 31st total of 123,460,000 shares. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is presently 2.6 days. Approximately 10.8% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BTIG Research upped their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. The Goldman Sachs Group decreased their price target on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a research note on Tuesday, July 9th. William Blair downgraded shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Finally, Morgan Stanley decreased their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.76.

Ginkgo Bioworks Stock Performance

Shares of NYSE:DNA remained flat at $7.08 during trading on Thursday. 760,043 shares of the stock were exchanged, compared to its average volume of 1,088,994. The firm’s 50-day moving average price is $1.39 and its 200-day moving average price is $1.12. Ginkgo Bioworks has a 1 year low of $7.03 and a 1 year high of $98.60. The company has a market capitalization of $15.66 billion, a PE ratio of -16.11 and a beta of 1.14.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors have recently made changes to their positions in DNA. Spire Wealth Management purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter valued at approximately $25,000. Paloma Partners Management Co purchased a new stake in Ginkgo Bioworks in the first quarter worth approximately $28,000. First Trust Direct Indexing L.P. purchased a new stake in Ginkgo Bioworks in the first quarter worth approximately $35,000. Algert Global LLC purchased a new stake in Ginkgo Bioworks in the second quarter worth approximately $36,000. Finally, Russell Investments Group Ltd. boosted its holdings in Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after purchasing an additional 31,626 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.