Ginkgo Bioworks (NYSE:DNA) Shares Gap Down – Here’s Why

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped down prior to trading 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 traded.

Analyst Ratings Changes

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

Ginkgo Bioworks Trading Up 5.1 %

The business has a 50 day moving average of $8.63. The stock has a market capitalization of $566.17 million, a price-to-earnings ratio of -0.75 and a beta of 1.17.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new position in Ginkgo Bioworks in the second quarter valued at approximately $36,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $41,000. Thoroughbred Financial Services LLC acquired a new position in Ginkgo Bioworks in the 2nd quarter valued at about $70,000. Pine Valley Investments Ltd Liability Co raised its stake in shares of Ginkgo Bioworks by 653.7% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock valued at $74,000 after acquiring an additional 191,336 shares in the last quarter. Finally, North Star Asset Management Inc. lifted its stake in Ginkgo Bioworks by 162.6% in the second quarter. North Star Asset Management Inc. now owns 231,100 shares of the company’s stock worth $77,000 after acquiring an additional 143,100 shares during the last quarter. 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.