Monaco Asset Management SAM Purchases Shares of 9,800,000 Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Monaco Asset Management SAM acquired a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,800,000 shares of the company’s stock, valued at approximately $3,276,000. Ginkgo Bioworks comprises 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of DNA. Spire Wealth Management bought a new position in shares of Ginkgo Bioworks in the fourth quarter valued at about $25,000. Paloma Partners Management Co acquired a new stake in Ginkgo Bioworks during the first quarter worth approximately $28,000. First Trust Direct Indexing L.P. bought a new stake in shares of Ginkgo Bioworks during the first quarter worth approximately $35,000. Russell Investments Group Ltd. grew its position in shares of Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after purchasing an additional 31,626 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new position in shares of Ginkgo Bioworks during the fourth quarter worth approximately $50,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DNA has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of Ginkgo Bioworks from $0.05 to $0.03 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. BTIG Research boosted their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.43.

Ginkgo Bioworks Stock Down 5.0 %

DNA stock opened at $5.37 on Tuesday. The company’s 50-day moving average price is $1.97 and its two-hundred day moving average price is $0.71. The firm has a market cap of $298.46 million, a P/E ratio of -12.20 and a beta of 1.07. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.29 and a 12 month high of $86.80.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The business had revenue of $56.21 million for the quarter, compared to analysts’ expectations of $41.46 million. Equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.