Saturday, June 25, 2022

The Attractiveness of Investing In Ginkgo Bioworks Holdings Inc. (DNA) is Growing

BofA Securities downgraded its Ginkgo Bioworks Holdings Inc. [DNA] rating to an Underperform from a a Neutral in a research note published on Tuesday. PT values the company’s stock at a premium of 18.67 to its Tuesday closing price. Goldman began covering DNA with a “Neutral” recommendation on February 23, 2022. BofA Securities started covering the stock on February 01, 2022. It rated DNA as “a Neutral”.


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Price Performance Review of DNA

On Tuesday, Ginkgo Bioworks Holdings Inc. [NYSE:DNA] saw its stock jump 2.95% to $2.44. On the same session, the stock had its day’s lowest price of $2.43, but rose to a high of $2.63. Over the last five days, the stock has gained 2.52%. Ginkgo Bioworks Holdings Inc. shares have fallen nearly -70.64% since the year began. Nevertheless, the stocks have fallen -75.38% over the past one year. While a 52-week high of $15.86 was reached on 01/03/22, a 52-week low of $2.09 was recorded on 05/12/22. SMA at 50 days reached $3.03, while 200 days put it at $7.22.

Levels Of Support And Resistance For DNA Stock

The 24-hour chart illustrates a support level at 2.37, which if violated will result in even more drops to 2.30. On the upside, there is a resistance level at 2.57. A further resistance level may holdings at 2.70. The Relative Strength Index (RSI) on the 14-day chart is 41.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.82%. Stochastics %K at 8.28% indicates the stock is a buying.

Ginkgo Bioworks Holdings Inc. [DNA] – Who Are The Largest Shareholders?

In filings from Baillie Gifford & Co., it is revealed that the company now owns 167,752,680 shares, or roughly 15.34% of the outstanding DNA shares. In other words, the investor’s shares have risen by 58,302,509 from its previous 13-F filing of 109450171.0. Additionally, Anchorage Capital Group LLC decreased 0.00% of its stake after which the total value it holdings stand at $213,007,730, while ARK Investment Management LLC added 49.45% of its stake to hold $198.76 million in the firm. Over the last quarter, Viking Global Investors LP sold -288,000,000 shares of Ginkgo Bioworks Holdings Inc., while Senator Investment Group LP sold -30,579,856 shares. At present, The Vanguard Group, Inc. is holding 28,903,425 shares valued at $89.02 million. Morgan Stanley Investment Managem owned 24,038,979 shares of the company at the time of its most recent 13F filing, worth $74.04 million.

According to FactSet, Ginkgo Bioworks Holdings Inc.’s share price will average $7.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 110.97 percent from its previous closing price of $2.37. Analysts expect Ginkgo Bioworks Holdings Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $3.00. However, 8 analysts have rated DNA stock as an Overweight in their predictions for 2022. The most recent change occurred on January 28, 2022 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $8 price target.

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