Ginkgo Bioworks (NYSE:DNA) Shares Up 13.4% - Still a Buy?

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

Ginkgo Bioworks Trading Down 0.0%

The company has a market capitalization of $740.72 million, a PE ratio of -1.38 and a beta of 1.48. The business's fifty day moving average is $8.25 and its two-hundred day moving average is $9.07.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted 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). The business had revenue of $48.32 million during the quarter, compared to the consensus estimate of $38.70 million. Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. As a group, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of Ginkgo Bioworks by 780.6% in the fourth quarter. Bank of America Corp DE now owns 3,764,455 shares of the company's stock worth $36,967,000 after acquiring an additional 3,336,964 shares during the period. Erste Asset Management GmbH lifted its position 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 purchasing an additional 910,668 shares during the period. Millennium Management LLC boosted its holdings in Ginkgo Bioworks by 113.1% in 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 last quarter. Forbes J M & Co. LLP boosted its holdings in 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 worth $6,239,000 after purchasing an additional 392,832 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Ginkgo Bioworks by 25.4% in the 1st 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 during the period. Institutional investors own 78.63% of the company's stock.

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.