Monaco Asset Management SAM Invests $3.28 Million in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Monaco Asset Management SAM acquired a new position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,800,000 shares of the company’s stock, valued at approximately $3,276,000. Ginkgo Bioworks accounts for approximately 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 19th biggest position. Monaco Asset Management SAM owned approximately 0.44% of Ginkgo Bioworks as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DNA. Vanguard Group Inc. boosted its stake in Ginkgo Bioworks by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock worth $224,398,000 after acquiring an additional 463,096 shares during the last quarter. Norges Bank acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at $24,967,000. Lingotto Investment Management LLP increased its position in shares of Ginkgo Bioworks by 34.9% in the 4th quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock valued at $14,384,000 after buying an additional 2,200,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ginkgo Bioworks by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,661,303 shares of the company’s stock worth $12,948,000 after buying an additional 242,906 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in Ginkgo Bioworks by 110.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock worth $5,520,000 after buying an additional 2,499,425 shares during the period. 78.63% of the stock is owned by institutional investors.

Ginkgo Bioworks Stock Down 5.0 %

NYSE:DNA opened at $5.37 on Tuesday. The company 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 twelve month low of $5.29 and a twelve month high of $86.80. The business has a 50 day moving average price of $1.97 and a two-hundred day moving average price of $0.71.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share 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 during the quarter, compared to the consensus estimate of $41.46 million. As a group, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -12.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DNA shares. BTIG Research raised their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. The Goldman Sachs Group dropped 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. Finally, Morgan Stanley reduced their price target on shares of Ginkgo Bioworks from $0.05 to $0.03 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1.43.

Ginkgo Bioworks Profile

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.