5 GMO Stocks to Invest in Now

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

Number of Hedge Fund Holders: 30

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a Massachusetts-based company involved in cell programming, genetic engineering, and organism engineering. The company aims to improve the efficiency and sustainability of existing strains, in order to revolutionize agriculture and food ingredients. 

On March 14, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) announced its plans to acquire FGen AG, a Swiss bioengineering company, that provides a screening platform built on nanoliter reactor technology. The acquisition will enable Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) to expand into the genetic technology market, raising the possibility of discovering enzymes, pathways, and strains to create diverse products.

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. Synthetic Biology, or “SynBio” is a high-growth vertical and Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has a prominent competitive advantage in scalable genetic engineering, the analyst told investors in a bullish thesis. 

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 total stakes held in Q4 amounted to $4.2 billion.