Ginkgo Bioworks (NYSE:DNA) Stock Price Up 13.4% - Should You Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares were up 13.4% during trading on Monday . The stock traded as high as $10.46 and last traded at $10.72. Approximately 320,070 shares traded hands during trading, a decline of 78% from the average daily volume of 1,475,205 shares. The stock had previously closed at $9.46.

Ginkgo Bioworks Stock Performance

The company has a 50 day moving average of $8.05 and a 200 day moving average of $9.02. The stock has a market capitalization of $667.18 million, a price-to-earnings ratio of -1.24 and a beta of 1.48.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.35). Ginkgo Bioworks had a negative net margin of 198.84% and a negative return on equity of 52.35%. The business had revenue of $48.32 million during the quarter, compared to analyst estimates of $38.70 million. On average, equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DNA. Bank of America Corp DE raised its stake in shares of Ginkgo Bioworks by 780.6% in the 4th 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 grew its position in Ginkgo Bioworks by 123.2% in the 1st 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 in the last quarter. Millennium Management LLC increased its stake in Ginkgo Bioworks by 113.1% during the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock worth $8,137,000 after purchasing an additional 757,535 shares during the period. Forbes J M & Co. LLP increased its stake in Ginkgo Bioworks by 56.0% during the first quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock worth $6,239,000 after purchasing an additional 392,832 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ginkgo Bioworks by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company's stock worth $3,915,000 after purchasing an additional 139,126 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

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.