Steven Coen Sells 33,171 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Steven Coen sold 33,171 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $6.41, for a total transaction of $212,626.11. Following the transaction, the insider directly owned 49,849 shares in the company, valued at approximately $319,532.09. The trade was a 39.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Up 1.0%

DNA opened at $7.80 on Thursday. The firm’s fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $9.41. The company has a market cap of $482.67 million, a price-to-earnings ratio of -1.38 and a beta of 1.56. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.37 and a 52-week high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.38. The firm had revenue of $33.40 million for the quarter, compared to the consensus estimate of $37.57 million. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. On average, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of DNA. Quarry LP purchased a new position in Ginkgo Bioworks during the third quarter worth about $29,000. Raymond James Financial Inc. purchased a new position in Ginkgo Bioworks during the second quarter worth about $29,000. Strategic Advocates LLC raised its stake in Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after purchasing an additional 3,899 shares during the period. Strs Ohio purchased a new position in Ginkgo Bioworks during the third quarter worth about $44,000. Finally, Daiwa Securities Group Inc. purchased a new position in Ginkgo Bioworks during the second quarter worth about $71,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. BTIG Research decreased their price target on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, March 12th. Finally, TD Cowen dropped their target price on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $8.50.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.