Ginkgo Bioworks (NYSE:DNA) Shares Up 9.1% – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shot up 9.1% on Thursday . The company traded as high as $9.93 and last traded at $10.15. 419,392 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,321,163 shares. The stock had previously closed at $9.30.

Analyst Ratings Changes

Separately, TD Cowen boosted their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.58.

Ginkgo Bioworks Stock Up 6.0 %

The firm has a market capitalization of $621.64 million, a price-to-earnings ratio of -0.83 and a beta of 1.09. The firm has a 50 day moving average of $9.30.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Wealth Strategies LLC. bought a new stake in shares of Ginkgo Bioworks during the second quarter worth approximately $41,000. PDT Partners LLC acquired a new position in Ginkgo Bioworks during the third quarter valued at approximately $1,199,000. Erste Asset Management GmbH acquired a new position in Ginkgo Bioworks during the third quarter valued at approximately $4,075,000. Jacobs Levy Equity Management Inc. acquired a new position in Ginkgo Bioworks during the third quarter valued at approximately $2,282,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Ginkgo Bioworks by 1,606.9% during the second 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. 78.63% of the stock is owned by institutional investors.

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.