Ginkgo Bioworks Holdings Inc (NYSE: DNA) Stock Forecast: By 2024, Bulls Expect $12 Per Share

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In the last trading session, 27.06 million shares of the Ginkgo Bioworks Holdings Inc (NYSE:DNA) were traded, and its beta was 1.36. Most recently the company’s share price was $1.05, and it changed around -$0.07 or -6.25% from the last close, which brings the market valuation of the company to $2.13B. DNA currently trades at a discount to its 52-week high of $2.55, offering almost -142.86% off that amount. The share price’s 52-week low was $1.03, which indicates that the current value has risen by an impressive 1.9% since then. We note from Ginkgo Bioworks Holdings Inc’s average daily trading volume that its 10-day average is 16.81 million shares, with the 3-month average coming to 22.58 million.

Ginkgo Bioworks Holdings Inc (NYSE:DNA) trade information

Instantly DNA has showed a red trend with a performance of -6.25% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -37.87% year-to-date, but still down -3.67% over the last five days. On the other hand, Ginkgo Bioworks Holdings Inc (NYSE:DNA) is -18.60% down in the 30-day period. We can see from the shorts that 262.24 million shares have been sold at a short interest cover period of 9.97 day(s).

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The consensus price target as assigned by Wall Street analysts is $7.09, which translates to bulls needing to increase their stock price by 85.19% from its current value. Analyst projections state that DNA is forecast to be at a low of $4.35 and a high of $12.

Ginkgo Bioworks Holdings Inc (DNA) estimates and forecasts

Ginkgo Bioworks Holdings Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -41.99 percent over the past six months and at a 17.95% annual growth rate that is well above the industry average of 13.60%.

Ginkgo Bioworks Holdings Inc earnings are expected to increase by 30.58% in 2024, but the outlook is positive 19.50% per year for the next five years.

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Ginkgo Bioworks Holdings Inc’s next quarterly earnings report is expected to be released on February 29.

Ginkgo Bioworks Holdings Inc (NYSE:DNA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 6.74% of Ginkgo Bioworks Holdings Inc shares, and 83.72% of them are in the hands of institutional investors. The stock currently has a share float of 89.76%. Ginkgo Bioworks Holdings Inc stock is held by 440 institutions, with Baillie Gifford and Company being the largest institutional investor. By Jun 29, 2023, it held 15.06% of the shares, which is about 241.08 million shares worth $448.41 million.

ARK Investment Management, LLC, with 11.38% or 182.19 million shares worth $329.77 million as of Sep 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 116.78 million shares worth $211.37 million, making up 7.29% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held roughly 51.14 million shares worth around $92.57 million, which represents about 3.19% of the total shares outstanding.