Short Interest in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Decreases By 7.0%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 7,330,000 shares, a decline of 7.0% from the October 15th total of 7,880,000 shares. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 20.7% of the shares of the stock are sold short.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $6.45 on Wednesday. The firm has a market cap of $358.46 million, a P/E ratio of -0.49 and a beta of 1.09. Ginkgo Bioworks has a 12 month low of $5.26 and a 12 month high of $75.20. The company’s 50-day moving average is $7.81.

Wall Street Analyst Weigh In

A number of analysts recently commented on DNA shares. TD Cowen lifted their price objective on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. 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 research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.58.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in Ginkgo Bioworks in the third quarter valued at $2,282,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Ginkgo Bioworks by 644.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 32,319 shares of the company’s stock worth $263,000 after buying an additional 27,978 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Ginkgo Bioworks in the third quarter worth $4,075,000. PDT Partners LLC purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at $1,199,000. Finally, Verition Fund Management LLC acquired a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at $792,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.