BTIG Research Boosts Ginkgo Bioworks (NYSE:DNA) Price Target to $9.00

Key Points

• BTIG Research has increased the price target for Ginkgo Bioworks (NYSE:DNA) from $6.00 to $9.00, while maintaining a "sell" rating, indicating a potential downside of 28.05% from the stock's current price.
• Despite the downgrade from BTIG, Cowen has reiterated a "buy" rating on Ginkgo Bioworks, suggesting mixed analyst opinions, with an average price target of $9.50.
• Ginkgo Bioworks reported a quarterly revenue of $49.60 million, exceeding estimates, while also posting a less severe loss per share of ($1.10) compared to the expected ($1.44).

Ginkgo Bioworks (NYSE:DNA - Get Free Report) had its price target increased by BTIG Research from $6.00 to $9.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. BTIG Research's target price would indicate a potential downside of 28.05% from the stock's current price.

Separately, Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.50.

Ginkgo Bioworks Stock Up 6.4%

Shares of NYSE DNA opened at $12.5080 on Monday. The company has a market cap of $740.47 million, a P/E ratio of -2.13 and a beta of 1.50. Ginkgo Bioworks has a 52 week low of $5.00 and a 52 week high of $16.85. The business has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $9.34.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.44) by $0.34. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%.The firm had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Ginkgo Bioworks will post -10.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Shay Capital LLC lifted its position in Ginkgo Bioworks by 6.2% during the second quarter. Shay Capital LLC now owns 19,382 shares of the company's stock valued at $218,000 after purchasing an additional 1,124 shares during the last quarter. US Bancorp DE raised its position in shares of Ginkgo Bioworks by 43.5% during the 1st quarter. US Bancorp DE now owns 6,302 shares of the company's stock valued at $36,000 after buying an additional 1,911 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Ginkgo Bioworks by 10.0% during the 2nd quarter. California State Teachers Retirement System now owns 26,674 shares of the company's stock valued at $300,000 after buying an additional 2,426 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth $29,000. Finally, Price T Rowe Associates Inc. MD grew its position in Ginkgo Bioworks by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 82,815 shares of the company's stock worth $814,000 after acquiring an additional 3,152 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

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.

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