Market cap of Ginkgo Bioworks Holdings Inc. [DNA] reaches 4.38B – now what?

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Ginkgo Bioworks Holdings Inc. [NYSE: DNA] price plunged by -2.72 percent to reach at -$0.08. The company report on June 21, 2022 that Cronos Group and Ginkgo Bioworks Announce Achievement of THCV Equity Milestone.


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Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos”), an innovative global cannabinoid company, and Ginkgo Bioworks (NYSE: DNA) (“Ginkgo”), the leading horizontal platform for cell programming, today announced the achievement of the third target productivity milestone in their partnership to produce eight cultured cannabinoids. Using Ginkgo’s platform for organism design and development, Cronos has successfully achieved the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid hypothesized to reduce the appetite-enhancing property of THC. Access to additional rare cannabinoids will support Cronos’ innovation pipeline and commercialization strategy.

Launched in 2018 with the goal of accessing rare molecules in the cannabis plant to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos and Ginkgo aims to produce cultured cannabinoids at industrial scale. The program combines Cronos’ deep understanding of the biological structure and function of cannabinoids with Ginkgo’s vast experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture and more.

A sum of 68847022 shares traded at recent session while its average daily volume was at 24.48M shares. Ginkgo Bioworks Holdings Inc. shares reached a high of $3.12 and dropped to a low of $2.76 until finishing in the latest session at $2.86.

The one-year DNA stock forecast points to a potential upside of 61.4. The average equity rating for DNA stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $7.41 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 1.90. 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.

BofA Securities have made an estimate for Ginkgo Bioworks Holdings Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 18, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on March 02, 2022, representing the official price target for Ginkgo Bioworks Holdings Inc. stock. Previously, the target price had yet another raise to $7, while Goldman analysts kept a Neutral rating on DNA stock.

The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc. is set at 0.33, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 9.08. The Price to Book ratio for the last quarter was 2.92, with the Price to Cash per share for the same quarter was set at 0.98.

DNA Stock Performance Analysis:

Ginkgo Bioworks Holdings Inc. [DNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.28. With this latest performance, DNA shares gained by 10.85% in over the last four-week period, additionally sinking by -74.16% over the last 6 months – not to mention a drop of -71.37% in the past year of trading.

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 50.35, with the RSI for the last a single of trading hit 52.98, and the three-weeks RSI is set at 48.79 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 2.99, while it was recorded at 2.62 for the last single week of trading, and 7.11 for the last 200 days.

Insight into Ginkgo Bioworks Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Ginkgo Bioworks Holdings Inc. [DNA] shares currently have an operating margin of -582.43 and a Gross Margin at +53.93. Ginkgo Bioworks Holdings Inc.’s Net Margin is presently recorded at -583.12.

Return on Equity for this stock declined to -243.13, with Return on Assets sitting at -176.62.

Ginkgo Bioworks Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.70 and a Current Ratio set at 10.70.

Ginkgo Bioworks Holdings Inc. [DNA] Insider Position Details

There are presently around $1,903 million, or 75.40% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 167,752,680, which is approximately 53.269% of the company’s market cap and around 0.50% of the total institutional ownership; GENERAL ATLANTIC, L.P., holding 90,810,814 shares of the stock with an approximate value of $259.72 million in DNA stocks shares; and ANCHORAGE CAPITAL GROUP, L.L.C., currently with $197.79 million in DNA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Ginkgo Bioworks Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 132 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 135,233,892 shares. Additionally, 76 investors decreased positions by around 367,326,835 shares, while 24 investors held positions by with 162,868,583 shares. The mentioned changes placed institutional holdings at 665,429,310 shares, according to the latest SEC report filing. DNA stock had 69 new institutional investments in for a total of 18,412,679 shares, while 44 institutional investors sold positions of 22,802,276 shares during the same period.

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