Ginkgo Bioworks (NYSE:DNA) Shares Up 5%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were up 5% during trading on Thursday . The company traded as high as $0.93 and last traded at $0.92. Approximately 14,557,304 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 22,968,162 shares. The stock had previously closed at $0.87.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DNA. TD Cowen reduced their target price on 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 on the stock in a report 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.20.

Ginkgo Bioworks Stock Performance

The company has a market cap of $1.99 billion, a P/E ratio of -1.88 and a beta of 1.35. The business has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $1.38.

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

Insider Buying and Selling

In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the sale, the insider now owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Mark E. Dmytruk sold 39,569 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. Company insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its stake in shares of Ginkgo Bioworks by 11.4% in the 3rd quarter. IHT Wealth Management LLC now owns 51,745 shares of the company’s stock worth $161,000 after buying an additional 5,275 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Ginkgo Bioworks by 4.5% during the fourth quarter. Voya Investment Management LLC now owns 159,982 shares of the company’s stock valued at $270,000 after buying an additional 6,959 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Ginkgo Bioworks by 6.1% during the third quarter. Principal Financial Group Inc. now owns 130,334 shares of the company’s stock valued at $236,000 after buying an additional 7,499 shares in the last quarter. Two Sigma Securities LLC grew its holdings in shares of Ginkgo Bioworks by 8.1% during the first quarter. Two Sigma Securities LLC now owns 102,138 shares of the company’s stock valued at $136,000 after buying an additional 7,651 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Ginkgo Bioworks by 16.6% during the first quarter. HighTower Advisors LLC now owns 55,130 shares of the company’s stock valued at $72,000 after buying an additional 7,856 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.