Ginkgo Bioworks (NYSE:DNA) Trading 4.9% Higher

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price shot up 4.9% during trading on Tuesday . The stock traded as high as $0.30 and last traded at $0.30. Approximately 8,547,690 shares were traded during mid-day trading, a decline of 79% from the average session volume of 40,386,465 shares. The stock had previously closed at $0.29.

Analyst Ratings Changes

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

Ginkgo Bioworks Stock Up 5.3 %

The company’s 50-day simple moving average is $0.48 and its 200 day simple moving average is $0.93. The company has a market capitalization of $666.04 million, a P/E ratio of -0.69 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. The company had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. During the same quarter last year, the firm posted ($0.08) earnings per share. As a group, equities research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the transaction, the insider now directly owns 925,400 shares in the company, valued at $777,336. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total value of $219,950.00. Following the completion of the sale, the director now directly owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the insider now owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. Insiders sold 339,766 shares of company stock worth $271,961 over the last ninety days. Company insiders own 15.05% of the company’s stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds have recently made changes to their positions in the stock. Spire Wealth Management bought a new position in Ginkgo Bioworks during the fourth quarter valued at about $25,000. Paloma Partners Management Co bought a new stake in shares of Ginkgo Bioworks during the first quarter valued at approximately $28,000. First Trust Direct Indexing L.P. acquired a new position in shares of Ginkgo Bioworks in the first quarter valued at $35,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks in the fourth quarter worth $37,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after acquiring an additional 31,626 shares during the period. 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.