Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.42.

DNA has been the topic of several analyst reports. BTIG Research lowered their target price on Ginkgo Bioworks from $12.00 to $6.00 in a research report on Thursday, March 31st. Zacks Investment Research downgraded Ginkgo Bioworks from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Raymond James lowered their target price on Ginkgo Bioworks from $14.50 to $11.50 and set an “outperform” rating on the stock in a research report on Tuesday, April 5th. Cowen assumed coverage on Ginkgo Bioworks in a research report on Wednesday, March 2nd. They issued an “outperform” rating and a $12.00 price objective on the stock. Finally, Bank of America reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of Ginkgo Bioworks in a research note on Tuesday, February 1st.

DNA stock opened at $3.84 on Friday. Ginkgo Bioworks has a 1 year low of $2.62 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.76 and a current ratio of 12.79. The stock’s fifty day moving average price is $3.99 and its 200-day moving average price is $8.04.

Ginkgo Bioworks (NYSE:DNAGet Rating) last released its earnings results on Monday, March 28th. The company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.95). On average, sell-side analysts expect that Ginkgo Bioworks will post -0.13 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNA. Close Asset Management Ltd purchased a new stake in shares of Ginkgo Bioworks in the third quarter worth about $25,000. Van ECK Associates Corp purchased a new stake in shares of Ginkgo Bioworks in the fourth quarter worth about $35,000. Endurance Wealth Management Inc. lifted its position in shares of Ginkgo Bioworks by 150.0% in the fourth quarter. Endurance Wealth Management Inc. now owns 5,000 shares of the company’s stock worth $42,000 after buying an additional 3,000 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Ginkgo Bioworks in the third quarter worth about $93,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Ginkgo Bioworks in the third quarter worth about $116,000.

Ginkgo Bioworks Company Profile (Get Rating)

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.

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Analyst Recommendations for Ginkgo Bioworks (NYSE:DNA)

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