Ginkgo Bioworks (NYSE:DNA) Reaches New 52-Week Low at $0.26

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares hit a new 52-week low on Monday . The stock traded as low as $0.26 and last traded at $0.27, with a volume of 5053171 shares. The stock had previously closed at $0.31.

Analysts Set New Price Targets

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

Ginkgo Bioworks Stock Up 4.3 %

The firm has a 50 day moving average price of $0.39 and a two-hundred day moving average price of $0.85. The company has a market capitalization of $663.16 million, a price-to-earnings ratio of -0.65 and a beta of 1.14.

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

Insider Buying and Selling at Ginkgo Bioworks

In related news, Director Marijn E. Dekkers sold 265,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,515,364 shares of the company’s stock, valued at $4,577,752.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction that occurred 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 transaction, 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 is available at this link. Also, Director Harry Sloan acquired 297,619 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the transaction, the director now owns 718,540 shares in the company, valued at approximately $653,871.40. The disclosure for this purchase can be found here. Insiders sold a total of 309,446 shares of company stock worth $236,875 over the last ninety days. Company insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNA. SG Americas Securities LLC grew its holdings in shares of Ginkgo Bioworks by 72.1% during the 4th quarter. SG Americas Securities LLC now owns 43,844 shares of the company’s stock valued at $74,000 after acquiring an additional 18,364 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter valued at $37,000. Cerity Partners LLC lifted its stake in shares of Ginkgo Bioworks by 5.3% in the 4th quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock valued at $354,000 after purchasing an additional 10,472 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Ginkgo Bioworks by 32.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 62,943 shares of the company’s stock valued at $106,000 after purchasing an additional 15,396 shares during the last quarter. Finally, Powell Investment Advisors LLC lifted its stake in shares of Ginkgo Bioworks by 100.0% in the 4th quarter. Powell Investment Advisors LLC now owns 45,000 shares of the company’s stock valued at $76,000 after purchasing an additional 22,500 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.