Cowen slashes price target on Ginkgo Bioworks Holdings Inc. [DNA] – find out why.


Ginkgo Bioworks Holdings Inc. [NYSE: DNA] closed the trading session at $3.05 on 03/18/22. The day’s price range saw the stock hit a low of $2.92, while the highest price level was $3.16. The company report on March 17, 2022 that Ginkgo Bioworks Announces Date of Fourth Quarter and Full Year 2021 Results Presentation and Date for Annual Meeting of Shareholders.

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Presentation and Q&A session scheduled for post-market on Monday, March 28, 2022.

Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, announced today that it plans to host a presentation and Q&A session reviewing business performance for the fourth quarter and full year ended December 31, 2021, on Monday, March 28, 2022, beginning at 4:30 p.m. ET.

The stocks have a year to date performance of -63.30 percent and weekly performance of 0.00 percent. The stock has been moved at -74.96 percent over the last six months. The stock has performed -43.93 percent around the most recent 30 days and changed -70.90 percent over the most recent 3-months.

If compared to the average trading volume of 11.56M shares, DNA reached to a volume of 38279275 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ginkgo Bioworks Holdings Inc. [DNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DNA shares is $11.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DNA stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Ginkgo Bioworks Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on February 23, 2022, representing the official price target for Ginkgo Bioworks Holdings Inc. stock. Previously, the target price had yet another raise to $6, while BofA Securities analysts kept a Neutral rating on DNA stock.

The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc. is set at 0.41, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 25.17. The Price to Book ratio for the last quarter was 2.61, with the Price to Cash per share for the same quarter was set at 1.07.

DNA stock trade performance evaluation

Ginkgo Bioworks Holdings Inc. [DNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, DNA shares dropped by -43.93% in over the last four-week period, additionally sinking by -74.96% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DNA stock in for the last two-week period is set at 29.67, with the RSI for the last a single of trading hit 28.91, and the three-weeks RSI is set at 31.35 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 4.89, while it was recorded at 2.95 for the last single week of trading, and 9.38 for the last 200 days.

Ginkgo Bioworks Holdings Inc. [DNA]: An insightful look at the core fundamentals

When it comes to the capital structure of this company, Ginkgo Bioworks Holdings Inc. [DNA] has a Total Debt to Total Equity ratio set at 1,500.00. Additionally, DNA Total Debt to Total Capital is recorded at 93.75, with Total Debt to Total Assets ending up at 23.92.

Ginkgo Bioworks Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.00 and a Current Ratio set at 20.00.

Ginkgo Bioworks Holdings Inc. [DNA]: Insider Ownership positions

There are presently around $2,654 million, or 77.70% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: VIKING GLOBAL INVESTORS LP with ownership of 311,971,018, which is approximately 2.98% of the company’s market cap and around 0.40% of the total institutional ownership; GENERAL ATLANTIC, L.P., holding 111,566,297 shares of the stock with an approximate value of $340.28 million in DNA stocks shares; and BAILLIE GIFFORD & CO, currently with $333.82 million in DNA stock with ownership of nearly 20.271% of the company’s market capitalization.

Positions in Ginkgo Bioworks Holdings Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 113 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 148,914,581 shares. Additionally, 67 investors decreased positions by around 34,939,154 shares, while 23 investors held positions by with 686,377,396 shares. The mentioned changes placed institutional holdings at 870,231,131 shares, according to the latest SEC report filing. DNA stock had 77 new institutional investments in for a total of 71,185,927 shares, while 41 institutional investors sold positions of 14,990,470 shares during the same period.