Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 97.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,631 shares of the company’s stock after selling 14,895,639 shares during the period. Geode Capital Management LLC owned approximately 0.75% of Ginkgo Bioworks worth $3,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Wealth Strategies LLC. acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at about $41,000. PDT Partners LLC purchased a new stake in Ginkgo Bioworks during the 3rd quarter worth approximately $1,199,000. Erste Asset Management GmbH acquired a new position in Ginkgo Bioworks during the 3rd quarter valued at approximately $4,075,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ginkgo Bioworks in the third quarter worth $2,282,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Ginkgo Bioworks by 1,606.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 234,836 shares of the company’s stock worth $79,000 after buying an additional 221,078 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TD Cowen boosted their price target on Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Ginkgo Bioworks currently has an average rating of “Hold” and a consensus target price of $4.58.

Ginkgo Bioworks Price Performance

Shares of DNA opened at $11.62 on Tuesday. The stock’s 50-day moving average is $8.92. The firm has a market cap of $667.91 million, a P/E ratio of -0.89 and a beta of 1.09. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $64.40.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.