DNA Stock: The Bull Call That Has Ginkgo Bioworks Bouncing Back After Last Week’s "Scam" Accusation – InvestorPlace

Ginkgo Bioworks (NYSE:DNA) stock is doing well on Tuesday as it recovers with new coverage from an analyst.

The coverage helping out Ginkgo Bioworks today comes from William Blair analyst Matt Larew. He kicked off coverage of the stock with an outperform rating. Its worth noting that theres not much coverage of DNA stock by analysts so there isnt a consensus rating. The same is true for the price target, which Larew doesnt include in his coverage.

So why is the William Blair analyst taking a bullish stance on DNA stock? He believes that synthetic biology has the potential to revolutionize virtually every industry. Larew claims that Ginkgo Bioworkss platform will make it a long-term leader in the sector.

Todays positive coverage of DNA stock have it bouncing back from a negative short report last week. Scorpion Capital was behind that report and went so far as to claim that the company was a scam created by hedge funds and a snake oil salesman. You can learn all about that at this link.

That new coverage today is translating to movement for DNA stock. As of this writing, some 10 million shares of Ginkgo Bioworks stock have changed hands. Thats approaching the companys daily average trading volume of about 12.3 million shares.

DNA stock is up 14.3% as of Tuesday afternoon.

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On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

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DNA Stock: The Bull Call That Has Ginkgo Bioworks Bouncing Back After Last Week's "Scam" Accusation - InvestorPlace