Ginkgo Bioworks Holdings Inc. [DNA] stock Downgrade by BofA Securities analyst, price target now $3

Ginkgo Bioworks Holdings Inc. [NYSE: DNA] plunged by -$0.01 during the normal trading session on Friday and reaching a high of $3.41 during the day while it closed the day at $3.12. The company report on September 12, 2022 that Renee Wegrzyn Slated to Lead New Advanced Research Projects Agency for Health.

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The White House today announced that President Biden intends to appoint Renee Wegrzyn, PhD, as the first Director of the Advanced Research Projects Agency for Health (ARPA-H). Dr. Wegrzyn is currently the Vice President for Business Development at Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming. ARPA-H was established in March 2022 to drive transformative health breakthroughs that cannot readily be accomplished through traditional research or commercial activity.

“I am deeply honored to have the opportunity to shape ARPA-H’s ambitious mission and foster a vision and approach that will improve health outcomes for the American people, including President Biden’s Cancer Moonshot,” said Dr. Wegrzyn. “Some of the problems we face every day – especially in health and disease – are so large they can seem insurmountable. I have seen firsthand the tremendous expertise and energy the U.S. biomedical and biotechnological enterprise can bring to solve some of the toughest health challenges. ARPA-H will create the transformative and collaborative space that is required to support the next generation of moonshots for health—not only for complex diseases like cancer, but also systemic barriers like supply chain gaps and equitable access to breakthrough technologies and cures for everyone.”.

Ginkgo Bioworks Holdings Inc. stock has also gained 11.43% of its value over the past 7 days. However, DNA stock has inclined by 31.09% in the 3 months of the year. Over the past six months meanwhile, it has lost -22.58% and lost -62.45% year-on date.

The market cap for DNA stock reached $4.97 billion, with 1.62 billion shares outstanding and 830.38 million shares in the current float. Compared to the average trading volume of 25.08M shares, DNA reached a trading volume of 28168049 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 $7.98 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 2.00. 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 0.27, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 9.22. The Price to Book ratio for the last quarter was 3.28, with the Price to Cash per share for the same quarter was set at 0.86.

DNA stock trade performance evaluation

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 11.43. With this latest performance, DNA shares gained by 15.99% in over the last four-week period, additionally sinking by -22.58% over the last 6 months – not to mention a drop of -73.08% 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 53.62, with the RSI for the last a single of trading hit 54.68, and the three-weeks RSI is set at 52.67 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 2.97, while it was recorded at 3.08 for the last single week of trading, and 4.02 for the last 200 days.

Ginkgo Bioworks Holdings Inc. [DNA]: An insightful look at the core 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 11.80 and a Current Ratio set at 11.80.

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

There are presently around $2,449 million, or 77.60% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 205,327,786, which is approximately 22.399% of the company’s market cap and around 0.40% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 87,358,057 shares of the stock with an approximate value of $272.56 million in DNA stocks shares; and VANGUARD GROUP INC, currently with $270.61 million in DNA stock with ownership of nearly 195.687% of the company’s market capitalization.

Positions in Ginkgo Bioworks Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 176 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 233,026,304 shares. Additionally, 69 investors decreased positions by around 112,964,240 shares, while 40 investors held positions by with 438,955,866 shares. The mentioned changes placed institutional holdings at 784,946,410 shares, according to the latest SEC report filing. DNA stock had 98 new institutional investments in for a total of 43,652,203 shares, while 28 institutional investors sold positions of 17,317,393 shares during the same period.


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