Ginkgo Bioworks (NYSE:DNA) Stock Price Up 7.2% - What's Next?

Key Points

• Ginkgo Bioworks' stock price increased by 7.2% during mid-day trading on Monday, reaching a last traded price of $12.33, despite a significant drop in trading volume.
• Wall Street analysts maintain an average rating of "Hold" on Ginkgo Bioworks, with a price target increased to $9.00 from previous lower estimates, indicating cautious optimism.
• The company reported a revenue of $49.60 million for the last quarter, surpassing analysts' expectations, and has set its fiscal year 2025 guidance at negative earnings per share.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price shot up 7.2% during mid-day trading on Monday . The company traded as high as $12.32 and last traded at $12.33. 580,564 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,526,574 shares. The stock had previously closed at $11.50.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DNA. Wall Street Zen upgraded shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. BTIG Research boosted their price target on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a "sell" rating in a report on Monday, August 25th. Finally, Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.00.

Ginkgo Bioworks Trading Up 13.2%

The company has a market capitalization of $770.78 million, a price-to-earnings ratio of -2.24 and a beta of 1.50. The firm's 50 day simple moving average is $12.21 and its 200-day simple moving average is $9.53.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Ginkgo Bioworks by 25.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company's stock valued at $3,915,000 after purchasing an additional 139,126 shares in the last quarter. Invesco Ltd. grew its position in Ginkgo Bioworks by 252.8% in the first quarter. Invesco Ltd. now owns 93,684 shares of the company's stock valued at $534,000 after acquiring an additional 67,130 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Ginkgo Bioworks by 188.9% during the first quarter. Cubist Systematic Strategies LLC now owns 439,259 shares of the company's stock worth $2,504,000 after buying an additional 287,221 shares in the last quarter. American Century Companies Inc. bought a new position in Ginkgo Bioworks during the first quarter worth $190,000. Finally, Forbes J M & Co. LLP lifted 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 last quarter. 78.63% of the stock is currently owned by hedge funds and other 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.

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