Ginkgo Bioworks Holdings Inc. [NYSE: DNA] price plunged by -8.80 percent to reach at -$0.25. The company report on October 11, 2022 that Ginkgo Bioworks Announces Collaboration with Merck to Improve Active Pharmaceutical Ingredient Manufacturing.
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Ginkgo to engineer key biocatalytic enzymes for potential use in Merck’s drug manufacturing processes .
Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced a collaboration with Merck, known as MSD outside the United States and Canada, to engineer up to four enzymes for use as biocatalysts in Merck’s active pharmaceutical ingredient (API) manufacturing efforts. Through this collaboration, Ginkgo will leverage its extensive experience in cell engineering and enzyme design, as well as its capabilities in automated high throughput screening, manufacturing process development/optimization, bioinformatics and analytics to deliver optimal strains for expression of targeted biocatalysts.
A sum of 26654915 shares traded at recent session while its average daily volume was at 25.34M shares. Ginkgo Bioworks Holdings Inc. shares reached a high of $2.96 and dropped to a low of $2.55 until finishing in the latest session at $2.59.
The one-year DNA stock forecast points to a potential upside of 65.97. The average equity rating for DNA stock is currently 2.10, 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 $7.61 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 2.10. 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.
Morgan Stanley have made an estimate for Ginkgo Bioworks Holdings Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 04, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for Ginkgo Bioworks Holdings Inc. stock. Previously, the target price had yet another raise to $12, while Cowen analysts kept a Outperform rating on DNA stock.
The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc. is set at 0.30, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 8.36. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 0.79.
DNA Stock Performance Analysis:
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 -16.18. With this latest performance, DNA shares dropped by -17.25% in over the last four-week period, additionally sinking by -32.55% over the last 6 months – not to mention a drop of -77.73% 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 39.88, with the RSI for the last a single of trading hit 33.98, and the three-weeks RSI is set at 43.06 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 3.00, while it was recorded at 2.83 for the last single week of trading, and 3.65 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 11.80 and a Current Ratio set at 11.80.
Ginkgo Bioworks Holdings Inc. [DNA] Insider Position Details
There are presently around $2,033 million, or 81.00% 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 7.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 87,358,057 shares of the stock with an approximate value of $226.26 million in DNA stocks shares; and VANGUARD GROUP INC, currently with $224.64 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 178 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 232,024,909 shares. Additionally, 67 investors decreased positions by around 112,891,886 shares, while 42 investors held positions by with 440,210,516 shares. The mentioned changes placed institutional holdings at 785,127,311 shares, according to the latest SEC report filing. DNA stock had 100 new institutional investments in for a total of 43,377,580 shares, while 28 institutional investors sold positions of 17,207,055 shares during the same period.