Tuttle Capital Management LLC Increases Stock Holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Tuttle Capital Management LLC raised its position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) by 40.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,526 shares of the company’s stock after purchasing an additional 5,589 shares during the quarter. Tuttle Capital Management LLC’s holdings in Ginkgo Bioworks were worth $79,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DNA. Van ECK Associates Corp acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at about $35,000. Endurance Wealth Management Inc. raised its holdings in Ginkgo Bioworks by 100.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 10,000 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares during the period. Financial Consulate Inc. acquired a new position in Ginkgo Bioworks in the 1st quarter worth about $40,000. IHT Wealth Management LLC acquired a new position in Ginkgo Bioworks in the 4th quarter worth about $91,000. Finally, Qube Research & Technologies Ltd acquired a new position in Ginkgo Bioworks in the 4th quarter worth about $92,000. Hedge funds and other institutional investors own 46.93% of the company’s stock.

Wall Street Analysts Forecast Growth

DNA has been the subject of a number of research analyst reports. BTIG Research reduced their target price on Ginkgo Bioworks to $5.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Raymond James set a $11.50 target price on Ginkgo Bioworks and gave the company an “outperform” rating in a report on Tuesday, May 17th. Bank of America cut Ginkgo Bioworks from a “neutral” rating to an “underperform” rating and set a $3.00 target price for the company. in a report on Wednesday, May 18th. Finally, Jefferies Financial Group reduced their target price on Ginkgo Bioworks from $11.50 to $4.35 in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.12.

Ginkgo Bioworks Stock Up 0.3 %

DNA stock opened at $2.87 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.66 and a current ratio of 10.71. The business has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $3.58. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $2.09 and a 1 year high of $15.86.

Ginkgo Bioworks (NYSE:DNAGet Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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. Sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.12 EPS for the current year.

Ginkgo Bioworks Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Ginkgo Bioworks (NYSE:DNA)

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