Pictet Asset Management SA Takes $96,000 Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Pictet Asset Management SA purchased a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 40,502 shares of the company’s stock, valued at approximately $96,000.

Other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ginkgo Bioworks in the first quarter valued at approximately $43,000. Lincoln National Corp bought a new stake in shares of Ginkgo Bioworks in the second quarter valued at approximately $26,000. B. Riley Wealth Management Inc. bought a new stake in Ginkgo Bioworks during the first quarter worth $48,000. Hancock Whitney Corp bought a new stake in Ginkgo Bioworks during the first quarter worth $48,000. Finally, Formidable Asset Management LLC bought a new stake in Ginkgo Bioworks during the first quarter worth $62,000. 53.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DNA shares. Raymond James cut their target price on Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley started coverage on Ginkgo Bioworks in a research note on Tuesday, October 4th. They set an “equal weight” rating and a $5.00 target price for the company. Finally, BTIG Research cut their target price on Ginkgo Bioworks to $4.00 in a research note on Thursday, November 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.91.

Insider Activity

In other news, major shareholder Barry Canton sold 343,072 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $3.12, for a total value of $1,070,384.64. Following the completion of the transaction, the insider now directly owns 26,212,735 shares in the company, valued at approximately $81,783,733.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Barry Canton sold 343,072 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $3.12, for a total value of $1,070,384.64. Following the completion of the sale, the insider now directly owns 26,212,735 shares in the company, valued at $81,783,733.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason R. Kelly sold 103,765 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $2.10, for a total value of $217,906.50. Following the completion of the sale, the insider now owns 20,519,888 shares of the company’s stock, valued at $43,091,764.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,799,992 shares of company stock worth $18,008,003. Insiders own 17.47% of the company’s stock.

Ginkgo Bioworks Stock Down 1.0 %

Shares of DNA opened at $1.98 on Friday. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $1.94 and a 52 week high of $12.48. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.67 and a current ratio of 11.71. The stock has a fifty day moving average of $2.71 and a 200-day moving average of $2.82.

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.

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

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