Ginkgo Bioworks (NYSE:DNA) trades down 3.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Your Free Report ) traded down 3.8% during mid-day trading on Thursday. The stock traded as high as $8.84 and last traded at $8.96. 45,151 shares changed hands in mid-day trading, down 96% from the session’s average volume of 1,055,596 shares. Shares previously closed at $9.31.

Analyst upgrades and downgrades

A number of analysts recently commented on DNA shares. Goldman Sachs Group cut their price target on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. BTIG Research upped their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Morgan Stanley reduced 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 report on Wednesday, the 15th May. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2.76, according to MarketBeat.

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Ginkgo Bioworks trading down 1.9%

The firm has a 50 day simple moving average of $0.97 and a two hundred day simple moving average of $0.99. The company has a market cap of $18.01 billion, a PE ratio of -18.51 and a beta of 1.14.

Hedge funds influence Ginkgo Bioworks

Several institutional investors have recently bought and sold shares of the company. Wellington Wealth Strategies LLC. purchased a new stake in shares of Ginkgo Bioworks in the second quarter worth $41,000. Algert Global LLC acquired a new stake in Ginkgo Bioworks during the second quarter valued at $36,000. Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks in the second quarter valued at about $251,000. AQR Capital Management LLC acquired a new stake in shares of Ginkgo Bioworks in the second quarter valued at about $3,391,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Ginkgo Bioworks by 1,606.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after buying an additional 221,078 shares in the last quarter. 78.63% of shares are owned by institutional investors and hedge funds.

About Ginkgo Bioworks

(Get a free report)

Ginkgo Bioworks Holdings, Inc., together with its subsidiaries, develops cellular programming platform in the United States. Its platform is used to program cells to enable the biological production of products such as new therapies, food ingredients and petroleum-derived chemicals. It serves the pharmaceutical and biotechnology, agriculture, industrial and environmental, food and nutrition, consumer and technology, and government and defense industries.

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