Balance Capital Partners L.P. Invests $1.97 Million in Ginkgo Bioworks Holdings, Inc. $DNA

Balance Capital Partners L.P. bought a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 199,009 shares of the company's stock, valued at approximately $1,972,179. Ginkgo Bioworks makes up approximately 0.0% of Balance Capital Partners L.P.'s portfolio, making the stock its 10th biggest position. Balance Capital Partners L.P. owned 0.30% of Ginkgo Bioworks as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DNA. Millennium Management LLC lifted its position in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after buying an additional 757,535 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in shares of Ginkgo Bioworks during the 4th quarter valued at approximately $4,503,000. State Street Corp lifted its position in shares of Ginkgo Bioworks by 38.4% during the 4th quarter. State Street Corp now owns 1,292,071 shares of the company's stock valued at $10,737,000 after buying an additional 358,231 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Ginkgo Bioworks by 28,457.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company's stock valued at $1,901,000 after buying an additional 227,943 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Ginkgo Bioworks by 86.4% during the 4th quarter. UBS Group AG now owns 489,418 shares of the company's stock valued at $4,067,000 after buying an additional 226,861 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DNA shares. Zacks Research upgraded Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, TD Cowen lowered shares of Ginkgo Bioworks from a "buy" rating to a "hold" rating and decreased their price target for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $7.00.

Ginkgo Bioworks Stock Down 3.9%

NYSE DNA opened at $6.98 on Friday. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $17.58. The business's fifty day simple moving average is $8.37 and its 200-day simple moving average is $8.09. The firm has a market cap of $470.03 million, a PE ratio of -1.39 and a beta of 1.78.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.15. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. Research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.