Ginkgo Bioworks (NYSE:DNA) Stock Price Up 6.5% – Still a Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price traded up 6.5% during mid-day trading on Tuesday . The company traded as high as $12.75 and last traded at $12.41. 263,036 shares were traded during trading, a decline of 77% from the average session volume of 1,162,800 shares. The stock had previously closed at $11.65.

Wall Street Analyst Weigh In

Separately, TD Cowen increased their price target on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.58.

Ginkgo Bioworks Trading Down 0.7 %

The firm’s 50 day simple moving average is $8.92. The company has a market capitalization of $665.03 million, a P/E ratio of -0.88 and a beta of 1.09.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors and hedge funds have recently modified their holdings of DNA. Jacobs Levy Equity Management Inc. acquired a new position in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $2,282,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Ginkgo Bioworks by 644.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company’s stock valued at $263,000 after buying an additional 27,978 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Ginkgo Bioworks during the 3rd quarter worth about $4,075,000. PDT Partners LLC acquired a new stake in Ginkgo Bioworks in the 3rd quarter valued at about $1,199,000. Finally, Verition Fund Management LLC bought a new position in shares of Ginkgo Bioworks in the third quarter worth about $792,000. 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.