Ginkgo Bioworks (NYSE:DNA) Stock Price Up 6.5% – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were up 6.5% during mid-day trading on Tuesday . The company traded as high as $12.75 and last traded at $12.41. Approximately 263,036 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,162,800 shares. The stock had previously closed at $11.65.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three equities 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 company’s stock. According to MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Hold” and a consensus target price of $4.58.

Ginkgo Bioworks Price Performance

The stock’s fifty day moving average price is $8.99. The stock has a market capitalization of $636.87 million, a PE ratio of -0.85 and a beta of 1.09.

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $36,000. Wellington Wealth Strategies LLC. acquired a new stake in Ginkgo Bioworks in the second quarter worth $41,000. Thoroughbred Financial Services LLC acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at $70,000. Benjamin F. Edwards & Company Inc. grew its position in shares of 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 worth $79,000 after acquiring an additional 221,078 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $251,000. Institutional investors own 78.63% of the company’s stock.

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.