Ginkgo Bioworks (NYSE:DNA) Trading Up 6.5%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price traded up 6.5% during mid-day trading on Tuesday . The stock traded as high as $0.31 and last traded at $0.31. 19,388,918 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 39,926,844 shares. The stock had previously closed at $0.29.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. The Goldman Sachs Group reduced their target price on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. BTIG Research lowered their target price on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a report on Wednesday, June 26th. Finally, Morgan Stanley cut their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus price target of $1.40.

Ginkgo Bioworks Trading Up 2.2 %

The company’s 50 day moving average is $0.51 and its 200 day moving average is $0.96. The company has a market cap of $751.17 million, a PE ratio of -0.76 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA) last issued its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $37.94 million for the quarter, compared to the consensus estimate of $45.50 million. Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. During the same period in the prior year, the firm earned ($0.08) EPS. Analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total transaction of $40,157.04. Following the transaction, the insider now owns 925,400 shares in the company, valued at $777,336. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was 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 owns 5,515,364 shares in the company, valued at $4,577,752.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the transaction, the insider now owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,766 shares of company stock worth $271,961. 15.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. lifted its position in shares of Ginkgo Bioworks by 110.6% during the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after buying an additional 2,499,425 shares during the last quarter. Norges Bank purchased a new stake in Ginkgo Bioworks during the fourth quarter valued at approximately $24,967,000. Vanguard Group Inc. boosted its stake in Ginkgo Bioworks by 3.1% in the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after acquiring an additional 4,016,221 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in Ginkgo Bioworks by 358.2% in the fourth quarter. Pinebridge Investments L.P. now owns 140,935 shares of the company’s stock worth $238,000 after purchasing an additional 110,177 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Ginkgo Bioworks by 79.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock worth $210,000 after purchasing an additional 51,170 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

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.