Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Average Rating of “Reduce” by Analysts

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has been given a consensus recommendation of “Reduce” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.16.

DNA has been the subject of a number of recent analyst reports. BTIG Research boosted their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group decreased their price objective on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. Finally, TD Cowen boosted their price objective on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of large investors have recently added to or reduced their stakes in the stock. Forbes J M & Co. LLP bought a new stake in Ginkgo Bioworks in the 3rd quarter worth approximately $1,019,000. PFG Investments LLC bought a new stake in Ginkgo Bioworks in the 3rd quarter worth approximately $1,541,000. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at $41,000. Algert Global LLC bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at $36,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at $251,000. Institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Up 5.3 %

DNA stock opened at $8.04 on Wednesday. The firm’s 50 day simple moving average is $7.53. Ginkgo Bioworks has a 52-week low of $5.26 and a 52-week high of $75.20. The stock has a market capitalization of $446.59 million, a price-to-earnings ratio of -0.44 and a beta of 1.09.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($3.20). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The firm had revenue of $56.21 million during the quarter, compared to analyst estimates of $41.46 million. Analysts forecast that Ginkgo Bioworks will post -6.26 earnings per share for the current year.

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.