Ginkgo Bioworks (NYSE:DNA) Stock Price Down 3.9%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Free Report)’s share price fell 3.9% during trading on Monday . The company traded as low as $1.11 and last traded at $1.12. 2,435,519 shares were traded during mid-day trading, a decline of 89% from the average session volume of 22,332,314 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DNA shares. TD Cowen cut their price objective on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group reduced their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks has a consensus rating of “Hold” and a consensus target price of $2.20.

View Our Latest Stock Analysis on Ginkgo Bioworks

Ginkgo Bioworks Price Performance

The firm’s fifty day simple moving average is $1.26 and its 200 day simple moving average is $1.44. The company has a market capitalization of $2.24 billion, a PE ratio of -2.21 and a beta of 1.35.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $34.76 million during the quarter, compared to analysts’ expectations of $40.37 million. Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The firm’s quarterly revenue was down 64.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the completion of the transaction, the insider now owns 761,737 shares in the company, valued at $921,701.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of large investors have recently bought and sold shares of the business. Spire Wealth Management acquired a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $25,000. Creative Planning acquired a new position in Ginkgo Bioworks during the fourth quarter worth $25,000. Silverlake Wealth Management LLC purchased a new position in Ginkgo Bioworks in the 4th quarter valued at about $25,000. Private Advisor Group LLC purchased a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $26,000. Finally, Aspen Grove Capital LLC acquired a new position in Ginkgo Bioworks during the first quarter worth about $27,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

(Get Free Report)

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.

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