5 Best US Stocks to Buy Now

3. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Number of Hedge Fund Holders: 30

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was founded in 2008 and is headquartered in Boston, Massachusetts. The company develops a platform for cell programming, serving the ​​specialty chemicals, agriculture, food, consumer products, and pharmaceuticals sectors. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) reported a fourth quarter revenue of $148.49 million, above market consensus by $53.63 million. 

On April 5, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) and Twist Bioscience Corporation (NASDAQ:TWST) announced a new agreement that expands the scope of the collaboration between the organizations in the synthetic biology space. This four-year agreement includes an increased commitment by Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) to purchase products from Twist, which will allow Ginkgo to meet its anticipated growth targets.

BTIG analyst Mark Massaro maintained a Buy rating on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) on March 31 but slashed the firm’s price target on the shares to $6 from $12. The analyst noted that Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s fourth quarter results exceeded expectations and the company is experiencing stronger demand now than at any other time in the past. While Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s platform will be used to help with food security and higher crop yield, his price target cut reflects the broad selloff in biotech.

Among the hedge funds tracked by Insider Monkey in Q4 2021, 30 funds placed long calls on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), with collective stakes amounting to $4.2 billion. This is compared to 32 funds in the prior quarter, holding stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) worth $5.6 billion.