Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Down 7.0% in October

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 7,330,000 shares, a decrease of 7.0% from the October 15th total of 7,880,000 shares. Approximately 20.7% of the shares of the stock are short sold. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is presently 5.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at about $2,282,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Ginkgo Bioworks by 644.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company’s stock worth $263,000 after purchasing an additional 27,978 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth $4,075,000. PDT Partners LLC acquired a new position in shares of Ginkgo Bioworks during the third quarter worth $1,199,000. Finally, Verition Fund Management LLC purchased a new stake in Ginkgo Bioworks during the 3rd quarter worth about $792,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DNA has been the subject of a number of research analyst reports. TD Cowen increased their price target on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. BTIG Research boosted their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.58.

Ginkgo Bioworks Stock Performance

Shares of DNA traded down $0.08 during mid-day trading on Tuesday, hitting $6.25. 107,549 shares of the company’s stock were exchanged, compared to its average volume of 1,147,164. Ginkgo Bioworks has a fifty-two week low of $5.26 and a fifty-two week high of $75.20. The company has a 50-day moving average of $7.78.

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.