M&T Bank Corp purchased a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,496 shares of the company’s stock, valued at approximately $72,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Ginkgo Bioworks in the 1st quarter valued at $43,000. Lincoln National Corp purchased a new position in Ginkgo Bioworks during the 2nd quarter worth $26,000. B. Riley Wealth Management Inc. purchased a new position in Ginkgo Bioworks during the 1st quarter worth $48,000. Hancock Whitney Corp purchased a new position in Ginkgo Bioworks during the 1st quarter worth $48,000. Finally, Formidable Asset Management LLC purchased a new position in Ginkgo Bioworks during the 1st quarter worth $62,000. Hedge funds and other institutional investors own 53.37% of the company’s stock.
Wall Street Analyst Weigh In
DNA has been the subject of a number of analyst reports. Raymond James cut their price objective on shares of Ginkgo Bioworks from $14.50 to $10.50 and set an “outperform” rating for the company in a research report on Wednesday. BTIG Research cut their price objective on shares of Ginkgo Bioworks to $4.00 in a research report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Ginkgo Bioworks in a research report on Tuesday, October 4th. They set an “equal weight” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.55.
Ginkgo Bioworks Stock Performance
Shares of DNA opened at $2.19 on Friday. The company has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $2.85. The company has a quick ratio of 11.78, a current ratio of 11.71 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.91 billion, a PE ratio of -0.96 and a beta of 0.89. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $1.96 and a 52-week high of $13.74.
About Ginkgo Bioworks
Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.
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