Ginkgo Bioworks (NYSE:DNA) Releases Earnings Results, Misses Estimates By $0.21 EPS

Ginkgo Bioworks (NYSE:DNA) announced its quarterly earnings data on Thursday. The company reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.21), Zacks reports. Ginkgo Bioworks had a negative net margin of 188.00% and a negative return on equity of 49.23%. The company had revenue of $38.84 million during the quarter, compared to the consensus estimate of $38.95 million. Ginkgo Bioworks updated its FY 2025 guidance to EPS.

Ginkgo Bioworks Price Performance

DNA stock traded down $2.31 during midday trading on Friday, reaching $9.00. 2,955,726 shares of the company were exchanged, compared to its average volume of 1,305,470. Ginkgo Bioworks has a one year low of $5.00 and a one year high of $17.58. The firm has a market capitalization of $532.50 million, a price-to-earnings ratio of -1.44 and a beta of 1.53. The business has a 50-day moving average price of $12.60 and a two-hundred day moving average price of $10.89.

Analysts Set New Price Targets

DNA has been the subject of a number of analyst reports. BTIG Research raised their price target on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, August 25th. Cowen reissued a “buy” rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. Wall Street Zen cut shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.00.

Insider Buying and Selling at Ginkgo Bioworks

In other news, insider Steven P. Coen sold 5,609 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $15.00, for a total transaction of $84,135.00. Following the completion of the sale, the insider owned 5,503 shares in the company, valued at approximately $82,545. This trade represents a 50.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNA. AQR Capital Management LLC raised its holdings in Ginkgo Bioworks by 322.6% in the 1st quarter. AQR Capital Management LLC now owns 158,939 shares of the company’s stock valued at $906,000 after acquiring an additional 121,326 shares during the period. Millennium Management LLC grew its position in shares of Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock valued at $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Ginkgo Bioworks by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock worth $3,915,000 after purchasing an additional 139,126 shares during the period. Acadian Asset Management LLC bought a new position in shares of Ginkgo Bioworks during the first quarter worth approximately $120,000. Finally, Rhumbline Advisers acquired a new stake in Ginkgo Bioworks during the 2nd quarter worth approximately $666,000. 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.