Ginkgo Bioworks (NYSE:DNA) Trading Up 6.4% – Still a Buy?

Posted by Shane Hupp on Jan 2nd, 2025

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report) shares traded up 6.4% on Tuesday . The stock traded as high as $10.15 and last traded at $10.04. 276,353 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,170,880 shares. The stock had previously closed at $9.44.

Analysts Set New Price Targets

Separately, TD Cowen raised their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.58.

Check Out Our Latest Report on Ginkgo Bioworks

Ginkgo Bioworks Trading Up 4.0 %

The company has a market capitalization of $564.44 million, a PE ratio of -0.75 and a beta of 1.17. The stock has a 50-day moving average of $8.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Ginkgo Bioworks during the second quarter worth about $3,391,000. Monaco Asset Management SAM purchased a new position in Ginkgo Bioworks in the second quarter valued at approximately $3,276,000. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the second quarter worth approximately $2,128,000. XTX Topco Ltd purchased a new stake in Ginkgo Bioworks during the second quarter worth approximately $312,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $251,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

(Get Free Report)

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.