125,000 Shares in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Bought by Forbes J M & Co. LLP

Forbes J M & Co. LLP bought a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 125,000 shares of the company’s stock, valued at approximately $1,019,000.

A number of other institutional investors have also added to or reduced their stakes in DNA. Vanguard Group Inc. raised its position in shares of Ginkgo Bioworks by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after purchasing an additional 463,096 shares during the period. AQR Capital Management LLC bought a new position in shares of Ginkgo Bioworks in the second quarter valued at about $3,391,000. Monaco Asset Management SAM bought a new position in shares of Ginkgo Bioworks in the second quarter valued at about $3,276,000. Renaissance Technologies LLC bought a new position in shares of Ginkgo Bioworks in the second quarter valued at about $2,128,000. Finally, Cetera Investment Advisers raised its position in shares of Ginkgo Bioworks by 2,683.7% in the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock valued at $2,626,000 after purchasing an additional 2,182,773 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Ginkgo Bioworks Stock Performance

Ginkgo Bioworks stock traded up $0.43 during trading hours on Monday, reaching $8.59. 172,306 shares of the stock were exchanged, compared to its average volume of 1,141,650. The company has a market cap of $477.43 million, a P/E ratio of -0.47 and a beta of 1.10. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $75.20. The stock has a 50 day moving average price of $7.51.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($3.20). The firm had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. On average, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DNA. The Goldman Sachs Group dropped their price objective on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. TD Cowen upped their price target on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, BTIG Research upped their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $4.16.

Ginkgo Bioworks 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.