BTIG Research Raises 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 - Free Report) had its price objective hoisted by BTIG Research from $6.00 to $9.00 in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a sell rating on the stock.

Separately, Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.50.

Ginkgo Bioworks Trading Up 4.4%

Shares of Ginkgo Bioworks stock traded up $0.54 on Monday, reaching $12.71. 2,034,023 shares of the company were exchanged, compared to its average volume of 1,592,000. The stock has a fifty day moving average price of $11.93 and a 200-day moving average price of $9.36. The firm has a market capitalization of $752.49 million, a price-to-earnings ratio of -2.17 and a beta of 1.50. Ginkgo Bioworks has a fifty-two week low of $5.00 and a fifty-two week high of $16.85.

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

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently bought and sold shares of DNA. Shay Capital LLC grew its holdings in Ginkgo Bioworks by 6.2% in the 2nd quarter. Shay Capital LLC now owns 19,382 shares of the company's stock worth $218,000 after acquiring an additional 1,124 shares during the last quarter. US Bancorp DE grew its stake in shares of Ginkgo Bioworks by 43.5% in the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock worth $36,000 after purchasing an additional 1,911 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Ginkgo Bioworks by 10.0% in the second quarter. California State Teachers Retirement System now owns 26,674 shares of the company's stock worth $300,000 after purchasing an additional 2,426 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ginkgo Bioworks in the second quarter worth about $29,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 purchasing an additional 3,152 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Ginkgo Bioworks Company Profile

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.