AlphaQuest LLC Purchases Shares of 38,072 Ginkgo Bioworks Holdings, Inc. $DNA

Key Points

• AlphaQuest LLC recently acquired 38,072 shares of Ginkgo Bioworks Holdings, Inc., valued at approximately $217,000, marking an ownership stake of 0.07% as of the latest SEC filing.
• Aside from AlphaQuest, several hedge funds have significantly increased their positions in Ginkgo Bioworks, with Bank of America Corp DE increasing its holdings by 780.6% in Q4.
• Ginkgo Bioworks reported better-than-expected quarterly earnings, with a revenue of $49.60 million, exceeding analysts' expectations, while its EPS was a loss of $1.10.

AlphaQuest LLC purchased a new stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,072 shares of the company's stock, valued at approximately $217,000. AlphaQuest LLC owned 0.07% of Ginkgo Bioworks at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Ginkgo Bioworks by 780.6% during the fourth quarter. Bank of America Corp DE now owns 3,764,455 shares of the company's stock valued at $36,967,000 after acquiring an additional 3,336,964 shares during the period. Erste Asset Management GmbH boosted its holdings in Ginkgo Bioworks by 123.2% during the first quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock valued at $9,405,000 after acquiring an additional 910,668 shares during the period. Forbes J M & Co. LLP lifted its stake in shares of Ginkgo Bioworks by 56.0% in the first quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock valued at $6,239,000 after buying an additional 392,832 shares during the period. Millennium Management LLC lifted its stake in shares of Ginkgo Bioworks by 357.4% in the fourth quarter. Millennium Management LLC now owns 670,065 shares of the company's stock valued at $6,580,000 after buying an additional 523,571 shares during the period. Finally, Prescott Group Capital Management L.L.C. lifted its stake in shares of Ginkgo Bioworks by 1.1% in the first quarter. Prescott Group Capital Management L.L.C. now owns 365,717 shares of the company's stock valued at $2,085,000 after buying an additional 3,967 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DNA shares. Wall Street Zen upgraded shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday. Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. Finally, BTIG Research increased their target price on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $9.50.

Ginkgo Bioworks Stock Up 4.4%

Shares of DNA opened at $12.71 on Friday. The stock has a market cap of $752.49 million, a price-to-earnings ratio of -2.17 and a beta of 1.50. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.00 and a 12 month high of $16.85. The company has a 50-day moving average price of $11.93 and a two-hundred day moving average price of $9.36.

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

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.

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