Renaissance Technologies LLC Invests $616,000 in Ginkgo Bioworks Holdings, Inc. $DNA

Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) during the first quarter, HoldingsChannel reports. The firm acquired 100,456 shares of the company’s stock, valued at approximately $616,000.

Other institutional investors have also added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at about $4,503,000. UBS Group AG boosted its position in shares of Ginkgo Bioworks by 86.4% during the fourth quarter. UBS Group AG now owns 489,418 shares of the company’s stock worth $4,067,000 after buying an additional 226,861 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Ginkgo Bioworks by 28,457.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock worth $1,901,000 after buying an additional 227,943 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ginkgo Bioworks by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,727 shares of the company’s stock worth $267,000 after buying an additional 1,122 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Ginkgo Bioworks by 66.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 50,273 shares of the company’s stock worth $418,000 after buying an additional 20,005 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Ginkgo Bioworks Trading Up 0.1%

Shares of DNA stock opened at $6.80 on Monday. The firm’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $8.23. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.37 and a 1 year high of $17.58. The firm has a market capitalization of $457.71 million, a P/E ratio of -1.36 and a beta of 1.78.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. The company had revenue of $20.16 million during the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen lowered Ginkgo Bioworks from a “buy” rating to a “hold” rating and dropped their target price for the company from $12.00 to $9.00 in a research report on Friday, August 7th. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Sell” and a consensus target price of $7.00.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.