Ginkgo Bioworks (NYSE:DNA) Shares Down 5.3% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price was down 5.3% during trading on Tuesday . The stock traded as low as $9.64 and last traded at $9.6150. Approximately 463,605 shares traded hands during trading, a decline of 56% from the average daily volume of 1,054,074 shares. The stock had previously closed at $10.15.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DNA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. Wall Street Zen lowered Ginkgo Bioworks from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, TD Cowen lowered their price target on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $10.50.

Ginkgo Bioworks Stock Down 9.5%

The business has a 50-day simple moving average of $9.12 and a 200-day simple moving average of $10.94. The stock has a market cap of $556.82 million, a P/E ratio of -1.48 and a beta of 1.55.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ginkgo Bioworks by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,727 shares of the company’s stock worth $267,000 after purchasing an additional 1,122 shares during the last quarter. Shay Capital LLC increased its position in Ginkgo Bioworks by 6.2% in the 2nd quarter. Shay Capital LLC now owns 19,382 shares of the company’s stock worth $218,000 after buying an additional 1,124 shares during the period. Savant Capital LLC lifted its holdings in shares of Ginkgo Bioworks by 7.9% during the third quarter. Savant Capital LLC now owns 17,509 shares of the company’s stock worth $255,000 after buying an additional 1,276 shares during the last quarter. Green Alpha Advisors LLC boosted its position in shares of Ginkgo Bioworks by 10.6% in the fourth quarter. Green Alpha Advisors LLC now owns 14,327 shares of the company’s stock valued at $119,000 after acquiring an additional 1,378 shares during the period. Finally, Quarry LP bought a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $29,000. 78.63% of the stock is owned by institutional investors and hedge funds.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.