Forbes J M & Co. LLP Cuts Position in Ginkgo Bioworks Holdings, Inc. $DNA

Forbes J M & Co. LLP lessened its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 1.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,077,241 shares of the company’s stock after selling 17,323 shares during the quarter. Forbes J M & Co. LLP’s holdings in Ginkgo Bioworks were worth $12,119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of 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 buying an additional 1,911 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ginkgo Bioworks by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 26,392 shares of the company’s stock valued at $150,000 after buying an additional 3,331 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in shares of Ginkgo Bioworks by 1.1% during the first quarter. Prescott Group Capital Management L.L.C. now owns 365,717 shares of the company’s stock valued at $2,085,000 after buying an additional 3,967 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of Ginkgo Bioworks by 14.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 39,700 shares of the company’s stock valued at $226,000 after buying an additional 4,900 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ginkgo Bioworks by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,995 shares of the company’s stock valued at $412,000 after buying an additional 5,746 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BTIG Research increased their price objective on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, August 25th. Wall Street Zen upgraded shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Cowen restated a “buy” rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ginkgo Bioworks has a consensus rating of “Hold” and an average target price of $9.00.

Ginkgo Bioworks Price Performance

Shares of DNA stock opened at $14.59 on Wednesday. The company has a market capitalization of $863.73 million, a price-to-earnings ratio of -2.49 and a beta of 1.50. Ginkgo Bioworks Holdings, Inc. has a one year low of $5.00 and a one year high of $16.85. The company’s fifty day moving average price is $12.27 and its 200-day moving average price is $9.61.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.44) by $0.34. The firm had revenue of $49.60 million for the quarter, compared to the consensus estimate of $41.60 million. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

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.