Ginkgo Bioworks (NYSE:DNA) Reaches New 1-Year Low at $0.85

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $0.85 and last traded at $0.89, with a volume of 37464582 shares. The stock had previously closed at $0.91.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DNA. TD Cowen reduced their price objective on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group cut their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The stock has a 50 day moving average price of $1.20 and a two-hundred day moving average price of $1.38. The company has a market capitalization of $1.86 billion, a PE ratio of -1.97 and a beta of 1.35.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The business’s revenue was down 64.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) EPS. Sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insider Activity

In other news, insider Mark E. Dmytruk sold 51,169 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the transaction, the insider now owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ginkgo Bioworks 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 owns 761,737 shares of the company’s stock, valued at approximately $921,701.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 directly owns 865,079 shares in the company, 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 Trading of Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNA. Quattro Financial Advisors LLC grew its holdings in shares of Ginkgo Bioworks by 8,749,900.0% during the 1st quarter. Quattro Financial Advisors LLC now owns 175,000 shares of the company’s stock worth $203,000 after purchasing an additional 174,998 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Ginkgo Bioworks by 110.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock worth $5,520,000 after purchasing an additional 2,499,425 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in shares of Ginkgo Bioworks by 47.5% during the 1st quarter. Green Alpha Advisors LLC now owns 297,637 shares of the company’s stock worth $345,000 after purchasing an additional 95,842 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Ginkgo Bioworks by 63.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 189,646 shares of the company’s stock worth $321,000 after purchasing an additional 73,843 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Ginkgo Bioworks by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock worth $224,398,000 after purchasing an additional 463,096 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

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.