Ginkgo Bioworks (NYSE:DNA) Given New $6.00 Price Target at Raymond James

Ginkgo Bioworks (NYSE:DNAGet Rating) had its price objective lowered by Raymond James from $10.50 to $6.00 in a report released on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Morgan Stanley started coverage on Ginkgo Bioworks in a report on Tuesday, October 4th. They issued an equal weight rating and a $5.00 price objective for the company. BTIG Research decreased their price objective on Ginkgo Bioworks to $4.00 in a report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $5.91.

Ginkgo Bioworks Price Performance

NYSE DNA opened at $2.00 on Tuesday. Ginkgo Bioworks has a twelve month low of $1.94 and a twelve month high of $13.09. The stock has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $2.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.67 and a current ratio of 11.71.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, major shareholder Barry Canton sold 343,072 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $3.12, for a total transaction of $1,070,384.64. Following the sale, the insider now owns 26,212,735 shares of the company’s stock, valued at $81,783,733.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Barry Canton sold 343,072 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $3.12, for a total transaction of $1,070,384.64. Following the transaction, the insider now owns 26,212,735 shares of the company’s stock, valued at approximately $81,783,733.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie E. Fallon sold 102,254 shares of the stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $3.25, for a total transaction of $332,325.50. Following the transaction, the insider now directly owns 127,534 shares in the company, valued at approximately $414,485.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,799,992 shares of company stock valued at $18,008,003. 17.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lincoln National Corp bought a new position in Ginkgo Bioworks in the 2nd quarter valued at about $26,000. Itau Unibanco Holding S.A. bought a new position in Ginkgo Bioworks in the 3rd quarter valued at about $30,000. Atria Wealth Solutions Inc. bought a new position in Ginkgo Bioworks in the 2nd quarter valued at about $30,000. Lake Street Financial LLC bought a new position in Ginkgo Bioworks in the 3rd quarter valued at about $31,000. Finally, Avantax Advisory Services Inc. bought a new position in Ginkgo Bioworks in the 3rd quarter valued at about $31,000. Institutional investors own 53.37% of the company’s stock.

About Ginkgo Bioworks

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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.

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