Ginkgo Bioworks (NYSE:DNA) Trading Down 7.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares dropped 7.8% on Tuesday . The company traded as low as $0.90 and last traded at $0.91. Approximately 23,892,871 shares traded hands during trading, a decline of 9% from the average daily volume of 26,277,510 shares. The stock had previously closed at $0.99.

Analyst Ratings Changes

DNA has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. TD Cowen decreased their target price on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Stock Performance

The company has a market cap of $1.92 billion, a price-to-earnings ratio of -1.90 and a beta of 1.36. The stock’s fifty day simple moving average is $1.12 and its two-hundred day simple moving average is $1.33.

Ginkgo Bioworks (NYSE:DNA) last released its 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). 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%. Ginkgo Bioworks’s revenue for the quarter was down 64.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) EPS. Analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 39,569 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $1.21, for a total transaction of $47,878.49. Following the completion of the sale, the insider now owns 761,737 shares of the company’s stock, valued at approximately $921,701.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Mark E. Dmytruk sold 51,169 shares of the company’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 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 this hyperlink. Also, insider Mark E. Dmytruk sold 39,569 shares of the company’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 transaction of $47,878.49. Following the completion of the sale, the insider now directly owns 761,737 shares of the company’s stock, valued at $921,701.77. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors have recently made changes to their positions in DNA. Spire Wealth Management acquired a new stake in Ginkgo Bioworks during the fourth quarter valued at approximately $25,000. Clarius Group LLC acquired a new stake in Ginkgo Bioworks during the third quarter valued at approximately $32,000. First Trust Direct Indexing L.P. acquired a new stake in Ginkgo Bioworks during the first quarter valued at approximately $35,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at approximately $37,000. Finally, Smith Salley & Associates lifted its position in shares of Ginkgo Bioworks by 100.0% in 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 in the last quarter. 78.63% of the stock is 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.