Brokerages Set Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Price Target at $1.43

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has been given a consensus recommendation of “Reduce” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $1.43.

DNA has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research report on Tuesday, July 9th. BTIG Research boosted their price objective on Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd.

Ginkgo Bioworks Price Performance

Shares of NYSE DNA opened at $8.32 on Tuesday. The stock’s 50-day moving average is $3.04 and its two-hundred day moving average is $1.07. Ginkgo Bioworks has a 1-year low of $5.26 and a 1-year high of $82.80. The company has a market cap of $462.43 million, a price-to-earnings ratio of -18.91 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $56.21 million during the quarter, compared to analysts’ expectations of $41.46 million. Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. Equities research analysts anticipate that Ginkgo Bioworks will post -12.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Ginkgo Bioworks by 28.2% during the 4th quarter. Victory Capital Management Inc. now owns 178,165 shares of the company’s stock worth $301,000 after buying an additional 39,171 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Ginkgo Bioworks by 142.0% in the 4th quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock valued at $51,000 after purchasing an additional 18,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ginkgo Bioworks by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,661,303 shares of the company’s stock valued at $12,948,000 after purchasing an additional 242,906 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Ginkgo Bioworks by 17.2% during the 4th quarter. Brown Advisory Inc. now owns 239,425 shares of the company’s stock valued at $405,000 after acquiring an additional 35,182 shares in the last quarter. Finally, Norges Bank acquired a new position in Ginkgo Bioworks during the 4th quarter worth about $24,967,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.