5 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

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

Number of Hedge Fund Holders: 30

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a Massachusetts-based company that runs a platform for cell programming, serving specialty chemicals, agriculture, food, consumer, and pharmaceuticals markets. The company uses genetic engineering to enhance the efficiency and sustainability of agriculture and food ingredients. On June 16, Jefferies analyst Laurence Alexander maintained a ‘Buy’ rating on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) and lowered the price target on the shares to $4.35 from $11.50. As per the analyst, chemical valuations usually lead earnings cuts by 6 to 9 months and are likely to shrink more before the rate cycle ends, noting that a longer rate hike cycle is possible. However, the company has potential to grow in the food innovation segment. 

According to Insider Monkey’s data, 30 hedge funds were bullish on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) at the end of Q1 2022, with combined stakes of $990.3 million.