The stock of Ginkgo Bioworks Holdings Inc. (NYSE:DNA) last traded at $2.32, down -13.11% from the previous session.
Data from the available sources indicates that Ginkgo Bioworks Holdings Inc. (NYSE:DNA) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $3.00, we find $5.00. Given the previous closing price of $2.67, this indicates a potential upside of 87.27 percent. DNA stock price is now -18.11% away from the 50-day moving average and -28.51% away from the 200-day moving average. The market capitalization of the company currently stands at $3.62B.
In total, 2 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $6.58 as their price target over the next twelve months.
With the price target of $5, Morgan Stanley recently initiated with Equal-Weight rating for Ginkgo Bioworks Holdings Inc. (NYSE: DNA). On May 18, 2022, BofA Securities Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $3, while ‘Cowen’ rates the stock as ‘Outperform’.
In other news, Shetty Reshma P., insider sold 212,443 shares of the company’s stock on Nov 15. The stock was sold for $533,232 at an average price of $2.51. Upon completion of the transaction, the insider now directly owns 21,162,719 shares in the company, valued at $49.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, Shetty Reshma P. sold 212,443 shares of the business’s stock. A total of $533,232 was realized by selling the stock at an average price of $2.51. This leaves the insider owning 21,162,721 shares of the company worth $49.1 million. Insiders disposed of 304,850,874 shares of company stock worth roughly $707.25 million over the past 1 year. A total of 5.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DNA stock. A new stake in Ginkgo Bioworks Holdings Inc. shares was purchased by NO STREET GP LP during the first quarter worth $6,960,000. SCHRODER INVESTMENT MANAGEMENT GROUP invested $6,142,000 in shares of DNA during the first quarter. In the first quarter, STATE OF NEW JERSEY COMMON PENSION FUND D acquired a new stake in Ginkgo Bioworks Holdings Inc. valued at approximately $1,936,000. ALLIANZ ASSET MANAGEMENT GMBH acquired a new stake in DNA for approximately $1,569,000. AQR CAPITAL MANAGEMENT LLC purchased a new stake in DNA valued at around $1,421,000 in the second quarter. In total, there are 337 active investors with 75.80% ownership of the company’s stock.
With an opening price of $2.4300 on Wednesday morning, Ginkgo Bioworks Holdings Inc. (NYSE: DNA) set off the trading day. During the past 12 months, Ginkgo Bioworks Holdings Inc. has had a low of $2.09 and a high of $14.20. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 11.80, and a quick ratio of 11.80. The fifty day moving average price for DNA is $2.8332 and a two-hundred day moving average price translates $3.2454 for the stock.
The latest earnings results from Ginkgo Bioworks Holdings Inc. (NYSE: DNA) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.41, missing analysts’ expectations of -$0.04 by -0.37. This compares to -$0.08 EPS in the same period last year. The company reported revenue of $66.4 million for the quarter, compared to $77.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.45 percent. For the current quarter, analysts expect DNA to generate $60.36M in revenue.
Ginkgo Bioworks Holdings Inc.(DNA) Company Profile
Ginkgo Bioworks Holdings, Inc., together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals. Ginkgo Bioworks has a partnership with Selecta Biosciences, Inc. to develop ImmTOR technology platform. Ginkgo Bioworks Holdings, Inc. was founded in 2008 and is headquartered in Boston, Massachusetts.