Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Consensus Rating of “Reduce” from Brokerages

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has received a consensus rating of “Reduce” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. 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 company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $3.42.

Several equities analysts have commented on DNA shares. TD Cowen increased their price objective on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. BTIG Research increased their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research note on Tuesday, July 9th.

Ginkgo Bioworks Trading Down 3.6 %

NYSE:DNA opened at $8.01 on Tuesday. The company has a market capitalization of $17.71 billion, a P/E ratio of -18.20 and a beta of 1.06. The business’s 50-day moving average is $3.20 and its 200 day moving average is $1.13. Ginkgo Bioworks has a 12 month low of $5.26 and a 12 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 (EPS) for the quarter, hitting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The business had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. On average, research analysts forecast that Ginkgo Bioworks will post -12.6 earnings per share for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Ginkgo Bioworks by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after acquiring an additional 463,096 shares during the last quarter. Norges Bank purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter valued at $24,967,000. AQR Capital Management LLC bought a new position in shares of Ginkgo Bioworks in the second quarter worth about $3,391,000. Monaco Asset Management SAM purchased a new position in Ginkgo Bioworks in the 2nd quarter worth about $3,276,000. Finally, Lingotto Investment Management LLP lifted its holdings in Ginkgo Bioworks by 34.9% during the 4th quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock valued at $14,384,000 after buying an additional 2,200,000 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.