Prescott Group Capital Management L.L.C. bought a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 541,845 shares of the company’s stock, valued at approximately $4,503,000.
A number of other hedge funds have also made changes to their positions in DNA. Millennium Management LLC raised its stake in shares of Ginkgo Bioworks by 113.1% in the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock valued at $8,137,000 after acquiring an additional 757,535 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ginkgo Bioworks by 28,457.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock valued at $1,901,000 after acquiring an additional 227,943 shares during the period. UBS Group AG raised its stake in shares of Ginkgo Bioworks by 86.4% in the 4th quarter. UBS Group AG now owns 489,418 shares of the company’s stock valued at $4,067,000 after acquiring an additional 226,861 shares during the period. Erste Asset Management GmbH raised its stake in shares of Ginkgo Bioworks by 10.0% in the 3rd quarter. Erste Asset Management GmbH now owns 2,200,000 shares of the company’s stock valued at $32,076,000 after acquiring an additional 200,000 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at $2,802,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on DNA shares. Wall Street Zen downgraded shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Monday, April 20th. Finally, BTIG Research lowered their price target on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Reduce” and an average target price of $8.50.
Ginkgo Bioworks Trading Up 4.7%
DNA opened at $7.71 on Thursday. The company has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $8.45. The firm has a market cap of $503.32 million, a price-to-earnings ratio of -1.44 and a beta of 1.77. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.37 and a twelve month high of $17.58.
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.38. The business had revenue of $33.40 million during the quarter, compared to analyst estimates of $37.57 million. Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%.
Insider Activity at Ginkgo Bioworks
In other Ginkgo Bioworks news, major shareholder Barry Canton sold 124,727 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $6.43, for a total transaction of $801,994.61. Following the completion of the transaction, the insider directly owned 436,422 shares of the company’s stock, valued at $2,806,193.46. This trade represents a 22.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Reshma P. Shetty sold 124,727 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $6.43, for a total transaction of $801,994.61. Following the transaction, the insider directly owned 436,422 shares of the company’s stock, valued at approximately $2,806,193.46. This represents a 22.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 542,981 shares of company stock valued at $3,548,999 in the last 90 days. 12.69% of the stock is currently owned by insiders.
Ginkgo Bioworks Company Profile
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.
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