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

Ginkgo Bioworks Holdings Inc. [NYSE: DNA] slipped around -0.08 points on Friday, while shares priced at $2.50 at the close of the session, down -3.10%. The company report on October 25, 2022 that Ginkgo Bioworks and the Ministry of Investment of Saudi Arabia Announce Plans to Develop Biosecurity and Biotechnology Capabilities for Global Public Health.

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Collaboration aims to bolster capabilities of key public health and research institutions, launch new biosecurity initiatives, and drive the development of the bioeconomy.

Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, and the Ministry of Investment of Saudi Arabia (“MISA”), representing the Kingdom of Saudi Arabia, today announced that they have entered into a non-binding Memorandum of Understanding with the intent of developing biotechnology and biosecurity capabilities to deploy new public health initiatives in the Kingdom of Saudi Arabia.

Ginkgo Bioworks Holdings Inc. stock is now -69.92% down from its year-to-date (YTD) trading value. DNA Stock saw the intraday high of $2.67 and lowest of $2.40 per share. The company’s 52-week high price is 15.86, which means current price is +19.62% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 27.01M shares, DNA reached a trading volume of 23736325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $7.61 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 0.26, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 7.78. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 0.82.

How has DNA stock performed recently?

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 -7.06. With this latest performance, DNA shares dropped by -22.60% in over the last four-week period, additionally sinking by -7.75% over the last 6 months – not to mention a drop of -82.65% 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 41.05, with the RSI for the last a single of trading hit 37.41, and the three-weeks RSI is set at 43.29 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 2.84, while it was recorded at 2.64 for the last single week of trading, and 3.33 for the last 200 days.

Ginkgo Bioworks Holdings Inc. [DNA]: Deeper insight into the fundamentals

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.

Insider trade positions for Ginkgo Bioworks Holdings Inc. [DNA]

There are presently around $2,226 million, or 75.70% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 206,667,116, which is approximately -0.602% of the company’s market cap and around 6.00% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 133,686,627 shares of the stock with an approximate value of $334.22 million in DNA stocks shares; and VANGUARD GROUP INC, currently with $221.15 million in DNA stock with ownership of nearly 178.169% 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 189 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 200,395,502 shares. Additionally, 88 investors decreased positions by around 117,524,275 shares, while 61 investors held positions by with 572,397,543 shares. The mentioned changes placed institutional holdings at 890,317,320 shares, according to the latest SEC report filing. DNA stock had 95 new institutional investments in for a total of 19,537,173 shares, while 34 institutional investors sold positions of 9,945,531 shares during the same period.


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