Ginkgo Bioworks Sees Unusually High Options Volume (NYSE:DNA)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the recipient of unusually large options trading on Monday. Traders acquired 10,531 call options on the stock. This represents an increase of approximately 898% compared to the typical volume of 1,055 call options.

Insiders Place Their Bets

In other Ginkgo Bioworks news, Director Christian Henry sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the completion of the transaction, the director owned 19,310 shares of the company’s stock, valued at approximately $136,714.80. The trade was a 20.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Ginkgo Bioworks by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock worth $760,000 after acquiring an additional 2,178 shares during the period. Strategic Advocates LLC lifted its holdings in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after acquiring an additional 3,899 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth approximately $50,000. Arizona State Retirement System purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth approximately $102,000. Finally, Entropy Technologies LP purchased a new stake in Ginkgo Bioworks in the 1st quarter worth approximately $67,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

DNA has been the subject of a number of research reports. TD Cowen lowered shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Zacks Research raised shares of Ginkgo Bioworks to a “hold” rating in a report on Monday, August 17th. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Oppenheimer set a $5.00 target price on shares of Ginkgo Bioworks in a research note on Wednesday, September 9th. Finally, BTIG Research reaffirmed a “sell” rating and issued a $5.00 price objective on shares of Ginkgo Bioworks in a research note on Friday, September 4th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Reduce” and a consensus price target of $6.33.

Ginkgo Bioworks Stock Up 22.0%

DNA stock opened at $15.06 on Tuesday. Ginkgo Bioworks has a twelve month low of $5.37 and a twelve month high of $17.58. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.01 and a beta of 1.79. The firm’s fifty day simple moving average is $8.22 and its two-hundred day simple moving average is $8.22.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.15. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. As a group, equities research analysts expect that Ginkgo Bioworks will post -3.2 EPS for the current year.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.