Insider Selling: Ginkgo Bioworks (NYSE:DNA) Insider Sells 5,609 Shares of Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Steven Coen sold 5,609 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total transaction of $84,135.00. Following the transaction, the insider directly owned 5,503 shares in the company, valued at approximately $82,545. The trade was a 50.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ginkgo Bioworks Trading Up 1.1%

NYSE DNA opened at $16.14 on Friday. The company’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $9.78. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.00 and a 52 week high of $16.85. The stock has a market cap of $955.43 million, a P/E ratio of -2.75 and a beta of 1.54.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.34. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. The business had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. On average, research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently added to or reduced their stakes in DNA. Raymond James Financial Inc. bought a new stake in Ginkgo Bioworks during the second quarter valued at $29,000. US Bancorp DE increased its stake in Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company’s stock valued at $36,000 after purchasing an additional 1,911 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Ginkgo Bioworks during the second quarter valued at $45,000. CWM LLC increased its stake in Ginkgo Bioworks by 667.6% during the first quarter. CWM LLC now owns 12,274 shares of the company’s stock valued at $70,000 after purchasing an additional 10,675 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Ginkgo Bioworks during the second quarter valued at $71,000. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DNA shares. BTIG Research boosted their target price on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Saturday, September 27th. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Cowen reaffirmed a “buy” rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $9.00.

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.