Ginkgo Bioworks (NYSE:DNA) PT Raised to $7.00

Ginkgo Bioworks (NYSE:DNA) had its price objective raised by investment analysts at BTIG Research from $0.20 to $7.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. BTIG Research’s price target would suggest a potential downside of 14.11% from the stock’s current price.

A number of other analysts have also recently issued reports on DNA. The Goldman Sachs Group dropped their price objective on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley cut 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. Finally, William Blair lowered shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.76.

Ginkgo Bioworks Stock Performance

Shares of DNA opened at $8.15 on Friday. The firm has a market cap of $18.02 billion, a P/E ratio of -18.52 and a beta of 1.14. Ginkgo Bioworks has a fifty-two week low of $7.29 and a fifty-two week high of $98.60. The business has a 50-day moving average of $0.97 and a 200 day moving average of $0.99.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management purchased a new position in shares of Ginkgo Bioworks in the fourth quarter valued at about $25,000. Paloma Partners Management Co bought a new stake in shares of Ginkgo Bioworks in the first quarter worth about $28,000. Pine Valley Investments Ltd Liability Co purchased a new position in Ginkgo Bioworks during the 4th quarter valued at about $50,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks during the 1st quarter valued at approximately $35,000. Finally, National Bank of Canada FI lifted its holdings in Ginkgo Bioworks by 142.0% in the 4th quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock worth $51,000 after buying an additional 18,000 shares during the period. 78.63% of the stock is currently owned by institutional investors.

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.