Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Consensus Rating of “Reduce” by Analysts

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) have been given an average rating of “Reduce” by the six brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $1.40.

DNA has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. BTIG Research lowered their target price on 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 reduced their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Finally, William Blair lowered Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research report on Friday, May 10th.

Insider Buying and Selling

In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the sale, the director now directly owns 5,515,364 shares of the company’s stock, valued at $4,577,752.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $0.83, for a total transaction of $219,950.00. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, Director Harry Sloan bought 297,619 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $0.91 per share, with a total value of $270,833.29. Following the completion of the acquisition, the director now directly owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The disclosure for this purchase can be found here. Insiders have sold 291,960 shares of company stock worth $231,804 in the last 90 days. Insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its holdings in shares of Ginkgo Bioworks by 5.3% during the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock valued at $354,000 after purchasing an additional 10,472 shares in the last quarter. Smith Salley & Associates boosted its holdings in shares of Ginkgo Bioworks by 100.0% during the 4th quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock valued at $41,000 after acquiring an additional 12,000 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Ginkgo Bioworks in the fourth quarter worth approximately $25,000. Daiwa Securities Group Inc. raised its holdings in shares of Ginkgo Bioworks by 32.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 62,943 shares of the company’s stock valued at $106,000 after purchasing an additional 15,396 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Ginkgo Bioworks by 2.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 689,787 shares of the company’s stock valued at $1,166,000 after purchasing an additional 15,540 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Ginkgo Bioworks Stock Performance

Shares of DNA stock opened at $0.31 on Monday. The firm has a market cap of $695.67 million, a P/E ratio of -0.72 and a beta of 1.14. The business’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.86. Ginkgo Bioworks has a fifty-two week low of $0.26 and a fifty-two week high of $2.47.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. The business had revenue of $37.94 million for the quarter, compared to the consensus estimate of $45.50 million. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, equities analysts predict that Ginkgo Bioworks will post -0.3 EPS for the current year.

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.