Ginkgo Bioworks (NYSE:DNA) Shares Gap Down – Time to Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares gapped down before the market opened on Thursday . The stock had previously closed at $9.37, but opened at $9.07. Ginkgo Bioworks shares last traded at $9.15, with a volume of 72,109 shares.

Analyst Ratings Changes

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 report on Friday, September 20th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.58.

Ginkgo Bioworks Stock Performance

The firm has a market cap of $566.17 million, a P/E ratio of -0.75 and a beta of 1.17. The business’s fifty day moving average price is $8.63.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in DNA. Wellington Wealth Strategies LLC. acquired a new position in Ginkgo Bioworks in the second quarter worth $41,000. PDT Partners LLC acquired a new stake in Ginkgo Bioworks during the third quarter valued at approximately $1,199,000. Erste Asset Management GmbH purchased a new position in Ginkgo Bioworks in the 3rd quarter worth about $4,075,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ginkgo Bioworks during the third quarter valued at approximately $2,282,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Ginkgo Bioworks by 1,606.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock valued at $79,000 after purchasing an additional 221,078 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.