Ginkgo Bioworks (NYSE:DNA) Shares Gap Down – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $9.37, but opened at $9.07. Ginkgo Bioworks shares last traded at $9.15, with a volume of 72,109 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TD Cowen raised their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Three research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.58.

Ginkgo Bioworks Stock Performance

The stock has a fifty day moving average price of $8.69. The company has a market capitalization of $555.25 million, a price-to-earnings ratio of -0.74 and a beta of 1.17.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $3,391,000. Monaco Asset Management SAM bought a new position in Ginkgo Bioworks during the 2nd quarter valued at $3,276,000. Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at $2,128,000. XTX Topco Ltd bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth $312,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Ginkgo Bioworks in the second quarter valued at $251,000. 78.63% of the stock is owned by institutional investors and hedge funds.

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.