Ginkgo Bioworks (NYSE:DNA) Trading Up 19.3% – Should You Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was up 19.3% on Friday . The stock traded as high as $9.96 and last traded at $9.9220. Approximately 1,025,212 shares changed hands during trading, an increase of 3% from the average daily volume of 997,270 shares. The stock had previously closed at $8.32.

Analyst Upgrades and Downgrades

Several research firms have commented on DNA. TD Cowen dropped their target price on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Reduce” and a consensus price target of $10.50.

Ginkgo Bioworks Trading Up 21.6%

The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $11.00. The stock has a market cap of $613.17 million, a price-to-earnings ratio of -1.62 and a beta of 1.55.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Thursday, November 6th. The company reported ($1.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.21). The firm had revenue of $38.84 million for the quarter, compared to the consensus estimate of $38.95 million. Ginkgo Bioworks had a negative return on equity of 51.15% and a negative net margin of 188.00%. As a group, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently modified their holdings of DNA. Quarry LP bought a new position in Ginkgo Bioworks during the third quarter worth $29,000. Raymond James Financial Inc. acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at about $29,000. Strs Ohio bought a new position in shares of Ginkgo Bioworks during the 3rd quarter worth about $44,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at about $45,000. Finally, State of Wyoming bought a new stake in Ginkgo Bioworks in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.