Ginkgo Bioworks (NYSE:DNA) Trading Down 7.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price was down 7.8% during trading on Tuesday . The stock traded as low as $0.90 and last traded at $0.91. Approximately 23,892,871 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 26,277,510 shares. The stock had previously closed at $0.99.

Analyst Ratings Changes

Several equities analysts have commented on DNA shares. TD Cowen dropped their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Stock Down 10.0 %

The stock has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $1.33. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -1.90 and a beta of 1.36.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $34.76 million during the quarter, compared to analyst estimates of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The company’s revenue was down 64.6% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. Equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insider Activity at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the transaction, the insider now owns 865,079 shares of the company’s stock, valued at $908,332.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now owns 761,737 shares in the company, valued at $921,701.77. The disclosure for this sale can be found here. 15.05% of the stock is owned by insiders.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. ARK Investment Management LLC raised its stake in shares of Ginkgo Bioworks by 9.0% in the fourth quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock valued at $335,645,000 after buying an additional 16,414,434 shares during the period. Norges Bank purchased a new position in shares of Ginkgo Bioworks in the fourth quarter valued at $24,967,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Ginkgo Bioworks by 15.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock valued at $106,331,000 after purchasing an additional 7,958,613 shares in the last quarter. Welch & Forbes LLC purchased a new position in Ginkgo Bioworks during the third quarter worth about $12,670,000. Finally, Vanguard Group Inc. grew its position in Ginkgo Bioworks by 3.1% during the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock worth $239,494,000 after buying an additional 4,016,221 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

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.