Stock Traders Buy Large Volume of Call Options on Ginkgo Bioworks (NYSE:DNA)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the target of some unusual options trading on Tuesday. Stock traders purchased 3,091 call options on the company. This represents an increase of approximately 109% compared to the typical volume of 1,480 call options.

Ginkgo Bioworks Price Performance

NYSE:DNA opened at $10.41 on Thursday. The company has a market cap of $598.37 million, a PE ratio of -0.80 and a beta of 1.17. The business has a 50 day moving average of $8.05. Ginkgo Bioworks has a 12 month low of $5.26 and a 12 month high of $75.20.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DNA shares. BTIG Research lifted their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. TD Cowen lifted their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.58.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently modified their holdings of DNA. Algert Global LLC bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $36,000. Wellington Wealth Strategies LLC. bought a new stake in Ginkgo Bioworks during the 2nd quarter valued at $41,000. Thoroughbred Financial Services LLC bought a new stake in Ginkgo Bioworks during the 2nd quarter valued at $70,000. Pine Valley Investments Ltd Liability Co raised its holdings in Ginkgo Bioworks by 653.7% during the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock valued at $74,000 after acquiring an additional 191,336 shares during the period. Finally, North Star Asset Management Inc. raised its holdings in Ginkgo Bioworks by 162.6% during the 2nd quarter. North Star Asset Management Inc. now owns 231,100 shares of the company’s stock valued at $77,000 after acquiring an additional 143,100 shares during the period. Institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

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.