Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Average Rating of “Reduce” from Analysts

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has been assigned an average rating of “Reduce” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.76.

A number of research firms recently weighed in on DNA. The Goldman Sachs Group reduced their price target on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. William Blair lowered Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research report on Friday, May 10th. BTIG Research lifted their price target 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. Finally, Morgan Stanley reduced their price objective on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors have recently made changes to their positions in DNA. Spire Wealth Management purchased a new position in Ginkgo Bioworks in the 4th quarter valued at $25,000. Paloma Partners Management Co purchased a new position in shares of Ginkgo Bioworks in the first quarter worth about $28,000. First Trust Direct Indexing L.P. acquired a new position in Ginkgo Bioworks during the first quarter worth about $35,000. Algert Global LLC purchased a new stake in Ginkgo Bioworks during the 2nd quarter valued at about $36,000. Finally, Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 31,626 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Ginkgo Bioworks Stock Performance

Shares of Ginkgo Bioworks stock opened at $7.08 on Friday. The firm has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $1.16. Ginkgo Bioworks has a fifty-two week low of $7.03 and a fifty-two week high of $98.60.

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.