Ginkgo Bioworks (NYSE:DNA) Stock Price Up 5%

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group cut their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research note on Monday, January 22nd. TD Cowen dropped their price target on 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 given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Stock Down 7.4 %

The company has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.37.

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

Insider Transactions at Ginkgo Bioworks

In other news, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks 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 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 Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks 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 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 owned by insiders.

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its stake in Ginkgo Bioworks by 9.0% in the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock valued at $335,645,000 after buying an additional 16,414,434 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ginkgo Bioworks by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after buying an additional 463,096 shares in the last quarter. BlackRock Inc. boosted its stake in Ginkgo Bioworks by 34.6% in the 2nd quarter. BlackRock Inc. now owns 68,202,832 shares of the company’s stock valued at $126,857,000 after buying an additional 17,538,752 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Ginkgo Bioworks by 15.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock valued at $106,331,000 after buying an additional 7,958,613 shares in the last quarter. Finally, State Street Corp boosted its stake in Ginkgo Bioworks by 40.6% in the second quarter. State Street Corp now owns 20,683,752 shares of the company’s stock worth $38,472,000 after purchasing an additional 5,976,244 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.