Ginkgo Bioworks (NYSE:DNA) Shares Down 4.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) fell 4.7% during trading on Monday . The company traded as low as $0.81 and last traded at $0.82. 13,916,503 shares traded hands during trading, a decline of 40% from the average session volume of 23,347,289 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

A number of research firms have recently commented on DNA. The Goldman Sachs Group lowered their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research report on Monday, January 22nd. TD Cowen lowered their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. One equities research 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’s stock. Based on data from MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Trading Up 3.4 %

The company has a fifty day moving average of $1.18 and a two-hundred day moving average of $1.36.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The company had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s quarterly revenue was down 64.6% on a year-over-year basis. As a group, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In other news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now directly owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management bought a new position in Ginkgo Bioworks in the fourth quarter worth approximately $25,000. Clarius Group LLC bought a new position in Ginkgo Bioworks in the third quarter worth approximately $32,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks in the first quarter worth approximately $35,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks in the fourth quarter worth approximately $37,000. Finally, Smith Salley & Associates grew its stake in Ginkgo Bioworks by 100.0% in the fourth quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock worth $41,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.