5 Best Biotech Stocks Under $5

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

Number of Hedge Fund Holders: 30

Share Price as of March 28: $3.7450

Headquartered in Boston, Massachusetts, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a biotechnology company that leverages genetic engineering to create bacteria for industrial use. 

Cowen analyst Steven Mah initiated coverage of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) on March 2 with an Outperform rating and a $12 price target. According to the analyst, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has a notable advantage in scalable genetic engineering. 

Among the hedge funds tracked by Insider Monkey, 30 funds were bullish on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) at the end of December 2021, compared to 32 funds in the earlier quarter. The collective stakes held in Q4 amounted to $4.2 billion.