BTIG Research Reduces Ginkgo Bioworks (NYSE:DNA) Target Price to $5.00

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Ginkgo Bioworks (NYSE: DNA – Get a rating) saw its price target lowered by research analysts BTIG Research to $5.00 in a report on Wednesday, Target Stock Advisor reports. The company currently has a “na” rating on the stock. BTIG Research’s target price suggests a potential upside of 102.43% from the company’s previous close.

A number of other stock analysts also weighed in on DNA. Bank of America downgraded shares of Ginkgo Bioworks from a “neutral” rating to an “underperforming” rating and set a price target of $3.00 for the company. in a research report Wednesday. Zacks Investment Research downgraded shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating in a Monday, April 4 research report. Cowen launched coverage on Ginkgo Bioworks shares in a research report on Wednesday, March 2. They set an “outperform” rating and a price target of $12.00 for the company. Raymond James set a price target of $11.50 on Ginkgo Bioworks shares and gave the stock an “outperform” rating in a research report on Tuesday. Finally, the Goldman Sachs group launched a hedge on the shares of Ginkgo Bioworks in a research report on Wednesday, February 23. They set a “neutral” rating and a price target of $7.00 for the company. One analyst rated the stock with a sell rating, two gave the company a hold rating and five gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.25.

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NYSE DNA shares were down $0.27 on Wednesday, hitting $2.47. The company’s stock had a trading volume of 1,147,733 shares, compared to an average volume of 21,294,068. Ginkgo Bioworks has a 12-month low of $2.09 and a 12-month high of $15.86. The company has a quick ratio of 12.76, a current ratio of 12.79 and a leverage ratio of 0.01. The stock has a 50-day moving average of $3.32 and a 200-day moving average of $6.62.

Ginkgo Bioworks (NYSE: DNA – Get a rating) last released its quarterly earnings data on Monday, May 16. The company reported ($0.30) earnings per share for the quarter, missing analyst consensus estimates of ($0.04) by ($0.26). Equity analysts expect Ginkgo Bioworks to post -0.13 EPS for the current fiscal year.

Several hedge funds have recently changed their positions in the company. Evergreen Capital Management LLC bought a new position in Ginkgo Bioworks stock in the first quarter worth $173,000. Captrust Financial Advisors increased its equity stake in Ginkgo Bioworks by 226.7% in the first quarter. Captrust Financial Advisors now owns 16,333 shares of the company worth $66,000 after purchasing an additional 11,333 shares during the period. State Street Corp increased its equity stake in Ginkgo Bioworks by 5.3% in the first quarter. State Street Corp now owns 4,000,068 shares of the company worth $16,120,000 after purchasing an additional 202,403 shares during the period. Autonomy Capital Jersey LP acquired a new stake in shares of Ginkgo Bioworks during the first quarter at a value of $557,000. Finally, Plustick Management LLC acquired a new stake in the shares of Ginkgo Bioworks in Q1 for a value of approximately $6,247,000. Institutional investors and hedge funds hold 46.93% of the company’s shares.

Ginkgo Bioworks Company Profile (Get a rating)

Ginkgo Bioworks Holdings, Inc., in collaboration with its subsidiaries, is developing a cell programming platform. Its platform is used to program cells to enable the biological production of products, such as novel therapeutics, food ingredients, and petroleum-derived chemicals. The company serves a variety of end markets, including specialty chemicals, agriculture, food, consumer products and pharmaceuticals.

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