Ginkgo Bioworks (NYSE:DNA) PT Raised to $10.00

Ginkgo Bioworks (NYSE:DNA) had its target price raised by research analysts at TD Cowen from $3.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 24.84% from the company’s previous close.

Several other research firms have also commented on DNA. BTIG Research lifted their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. The Goldman Sachs Group dropped their price target 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. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and an average target price of $3.42.

Ginkgo Bioworks Stock Down 3.6 %

Shares of Ginkgo Bioworks stock opened at $8.01 on Friday. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of -18.20 and a beta of 1.06. The business has a 50-day moving average price of $3.20 and a 200-day moving average price of $1.13. Ginkgo Bioworks has a twelve month low of $5.26 and a twelve month high of $82.80.

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

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Wealth Strategies LLC. bought a new stake in Ginkgo Bioworks in the second quarter worth about $41,000. Algert Global LLC bought a new stake in Ginkgo Bioworks in the second quarter worth about $36,000. Mackenzie Financial Corp bought a new stake in Ginkgo Bioworks in the second quarter worth about $251,000. AQR Capital Management LLC bought a new stake in shares of Ginkgo Bioworks during the second quarter valued at approximately $3,391,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 valued at $79,000 after acquiring an additional 221,078 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

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.