Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Consensus Rating of “Buy” by Analysts

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) have received an average rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $8.75.

A number of analysts recently issued reports on the company. Bank of America lowered Ginkgo Bioworks from a “neutral” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a research note on Wednesday, May 18th. BTIG Research reduced their target price on Ginkgo Bioworks to $5.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Zacks Investment Research cut Ginkgo Bioworks from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Raymond James set a $11.50 target price on Ginkgo Bioworks and gave the stock an “outperform” rating in a research report on Tuesday, May 17th. Finally, Cowen initiated coverage on Ginkgo Bioworks in a research report on Wednesday, March 2nd. They set an “outperform” rating and a $12.00 target price for the company.

NYSE:DNA opened at $3.66 on Monday. The company has a current ratio of 10.71, a quick ratio of 10.66 and a debt-to-equity ratio of 0.02. Ginkgo Bioworks has a 52-week low of $2.09 and a 52-week high of $15.86. The business’s fifty day moving average is $3.26 and its 200 day moving average is $5.58.

Ginkgo Bioworks (NYSE:DNAGet Rating) last released its quarterly earnings data on Monday, May 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $168.41 million during the quarter, compared to the consensus estimate of $100.15 million. Research analysts forecast that Ginkgo Bioworks will post -0.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of DNA. Viking Global Investors LP purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth about $3,511,109,000. General Atlantic L.P. purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth about $1,331,539,000. Baillie Gifford & Co. boosted its holdings in shares of Ginkgo Bioworks by 53.3% in the 1st quarter. Baillie Gifford & Co. now owns 167,752,680 shares of the company’s stock worth $676,043,000 after purchasing an additional 58,302,509 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Ginkgo Bioworks by 49.4% during the 1st quarter. ARK Investment Management LLC now owns 64,533,640 shares of the company’s stock valued at $260,071,000 after acquiring an additional 21,352,820 shares during the period. Finally, BlackRock Inc. purchased a new stake in Ginkgo Bioworks during the 4th quarter valued at about $135,919,000. Hedge funds and other institutional investors own 46.93% of the company’s stock.

About Ginkgo Bioworks (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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