Ginkgo Bioworks (NYSE: DNA – Get Review) was given a target price of $14.50 by equity researchers at Raymond James in a research report released Tuesday, BayStreet.CA reports. The company currently has an “outperform” rating on the stock. Raymond James’ target price indicates upside potential of 238.00% from the stock’s previous close.
Several other brokerages have also recently commented on DNA. Zacks Investment Research upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a Tuesday, March 15 research report. Bank of America reaffirmed a “neutral” rating and set a $6.00 price target on Ginkgo Bioworks shares in a Tuesday, February 1, report. Cowen launched a hedge on Ginkgo Bioworks shares in a Wednesday, March 2 research note. They issued an “outperform” rating and a $12.00 price target on the stock. BTIG Research began covering Ginkgo Bioworks shares in a research note on Friday, January 7. They set a “buy” rating and a target price of $12.00 for the business. Finally, Jefferies Financial Group began covering Ginkgo Bioworks shares in a research note on Monday, November 29. They issued a “buy” rating on the stock. Three equity research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.75.
Ginkgo Bioworks stock traded down $0.55 at midday on Tuesday, hitting $4.29. The company’s shares had a trading volume of 1,153,426 shares, compared to its average volume of 17,655,148. Ginkgo Bioworks has a twelve-month low of $2.62 and a twelve-month high of 15.86 $. The company’s fifty-day simple moving average is $4.44. The company has a debt ratio of 0.01, a quick ratio of 20.01 and a current ratio of 20.05.
Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly results on Monday, March 28. The company reported ($0.99) earnings per share for the quarter, missing the Zacks consensus estimate of ($0.04) by ($0.95). As a group, stock analysts predict Ginkgo Bioworks will post -0.23 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently been buying and selling stocks. Viking Global Investors LP acquired a new stake in Ginkgo Bioworks in Q3 valued at $3,511,109,000. General Atlantic LP bought a new position in Ginkgo Bioworks stock in the third quarter valued at approximately $1,331,539,000. Baillie Gifford & Co. acquired a new position in Ginkgo Bioworks stock in Q3 worth approximately $1,054,722,000. Senator Investment Group LP acquired a new stake in Ginkgo Bioworks during Q3 for a value of approximately $912,171,000. Finally, ARK Investment Management LLC increased its position in Ginkgo Bioworks by 85.9% in the 4th quarter. ARK Investment Management LLC now owns 43,180,820 shares of the company valued at $358,833,000 after purchasing an additional 19,949,965 shares in the last quarter.
About Ginkgo Bioworks (Get a rating)
The Ginkgo Bioworks platform enables biotechnology applications in various markets, from food and agriculture to industrial chemicals and pharmaceuticals. Ginkgo Bioworks, formerly known as Soaring Eagle Acquisition Corp., is based in NEW YORK.
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