Ginkgo Bioworks (NYSE:DNA) Trading Up 4.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price shot up 4.7% during mid-day trading on Tuesday . The stock traded as high as $0.34 and last traded at $0.34. 18,231,982 shares changed hands during trading, a decline of 53% from the average session volume of 39,055,734 shares. The stock had previously closed at $0.32.

Analyst Ratings Changes

DNA has been the subject of several research reports. BTIG Research dropped their price objective on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley cut their price objective on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Finally, William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.56.

Ginkgo Bioworks Price Performance

The firm has a market capitalization of $712.70 million, a price-to-earnings ratio of -0.77 and a beta of 1.14. The stock has a fifty day moving average of $0.64 and a two-hundred day moving average of $1.07.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The firm had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. During the same quarter in the previous year, the company posted ($0.08) EPS. On average, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the completion of the transaction, the director now directly owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total transaction of $219,950.00. Following the transaction, the director now directly owns 5,515,364 shares in the company, valued at approximately $4,577,752.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the sale, the insider now owns 925,400 shares of the company’s stock, valued at approximately $777,336. The disclosure for this sale can be found here. In the last 90 days, insiders sold 326,246 shares of company stock valued at $267,499. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in Ginkgo Bioworks during the fourth quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks in the 4th quarter valued at about $37,000. Paloma Partners Management Co acquired a new position in Ginkgo Bioworks during the 1st quarter valued at about $28,000. Smith Salley & Associates increased its holdings in Ginkgo Bioworks by 100.0% during the 4th 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. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Ginkgo Bioworks in the fourth quarter worth approximately $50,000. 78.63% of the stock is owned by institutional investors.

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.