As we move further into the future, the world of finance and investment continues to be an intriguing aspect of our society. The most recent news on this front comes from First Trust Advisors LP, a leading investment management company that has added Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) to its list of investments.
This move by First Trust Advisors LP is a significant one as it demonstrates their continued belief in the growth potential of Ginkgo Bioworks Holdings, Inc. As per their most recent SEC filing, First Trust Advisors LP has acquired 4,120,856 shares of the company’s stock at a cost of approximately $6,964,000. This amounts to owning 0.21% of the company’s overall shareholding.
Ginkgo Bioworks Holdings, Inc is a well-known entity in the biotechnology industry. Their primary platform focuses on developing ways to program cells for biological production purposes like therapeutics and food ingredients among others. Indeed their proficiency in dealing with such end markets as specialty chemicals, agriculture, food science and consumer products serves as testament to their robust research methodologies that have plenty more untapped potential still waiting on the horizon.
As per recent market data from NYSE DNA revealed that Ginkgo Bioworks Holdings ,Inc are trading at a current value of $1.53 per share post-Friday trading hours . Conversely over the last year ,the firm had seen bolstering highs of upto $4.91 and sobering lows which touched upto $1.12 respectively having maintained steady course with middle ground values increasing marginally by maintaining positive fluctuations hovering around prices closely guarding about 50 day moving average price up from where they have plummeted modestly below its two-hundred day moving average price situated at $1.29 2-prior calculated full cycles earlier however determined movement positively reflecting stable trends upward since then until now .
It will be interesting to see how this investment by First Trust Advisors LP influences the trajectory Ginkgo Bioworks Holdings, Inc can take in terms of continued growth and innovation in the biotechnology sector. With leading experts in this field lending their backing to Ginkgo Bioworks’ developmental efforts, we can expect to see promising growth in terms of business development objectives being reached to further benefit investors . This will undoubtedly set a precedent for other investment firms also looking to invest into promising long-term growth startups thereby continuing to drive forward the exciting world of finance and investment into the future.
Ginkgo Bioworks Reports Mixed Results for Q4/2022 and Faces Downgrades from Analysts
On May 26, 2023, Ginkgo Bioworks Holdings, Inc., a company that develops a platform for cell programming for biological production of products, such as therapeutics and food ingredients, had its latest financial results analyzed by equities research analysts. William Blair downgraded its rating from “outperform” to “market perform,” while BTIG Research dropped the target price on Ginkgo Bioworks. Raymond James also lowered the company’s target price from $6.00 to $5.00 but kept an “outperform” rating on the stock.
Despite recent ratings changes, several other hedge funds and institutional investors have recently bought and sold shares of Ginkgo Bioworks. For example, Baillie Gifford & Co. increased its holdings in shares of the company by 19.6% during the fourth quarter to currently own over 244 million shares valued at $412 million. Meanwhile, State Street Corp raised its holdings in the company’s shares by 6.3% during Q3 last year.
Ginkgo Bioworks Holdings reported its quarterly earnings data on March 1st with a revenue of over $98 million compared to analysts’ expectations of approximately $84 million for Q4/2022. The company also revealed negative net margins of around 440%, and insiders have since sold off shares worth millions in separate transactions disclosed by SEC filings.
Ginkgo Bioworks serves many end markets such as specialty chemicals, agriculture, food production and pharmaceuticals among others and has a consensus price target according to Bloomberg analysts at almost $4.67 per share with two research analysts giving it a HOLD rating while three others are positive with BUY recommendations on the stocks as “Moderate Buy.” Notably, the stock is owned up to nearly 62% by institutional investors or hedge funds who clearly see opportunity here despite some red flags among financial metrics disclosed so far.
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