Ginkgo Bioworks (NYSE:DNA) stock is volatile in early trading today after the company proposed a securities offering of up to $500 million. The company may offer the securities in either the same or separate offerings.
The development comes fresh on the heels of Ginkgo acquiring adaptive laboratory evolution (ALE) platform provider Altar and horizontal cell programming platform provider Circularis.
Shares of the company have already climbed 47.9% in the past month alone.
Will DNA Stock Go Up?
Ginkgo’s recent acquisitions bode well for the company, and the Street sees a substantial 187.73% potential upside in the stock, at an average price target of $9.38.
Further, Ginkgo stock scores a Strong Buy consensus rating at present based on four Buys and a Hold.
