Ginkgo Bioworks Holdings saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 85 to 94.
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IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best stocks typically have an RS Rating north of 80 at the beginning of a new price run.
While now is not an ideal time to buy shares, see if the stock is able to form a consolidation and break out.
Ginkgo Bioworks Holdings posted 0% earnings growth in its most recent report. Sales increased 27%.
The company holds the No. 43 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, TG Therapeutics and ACADIA Pharmaceuticals are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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