Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report)’s share price traded up 10.4% on Wednesday. The company traded as high as $12.80 and last traded at $13.2060. Approximately 1,605,815 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 1,239,489 shares. The stock had previously closed at $11.96.
Analyst Ratings Changes
DNA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Zacks Research raised Ginkgo Bioworks to a “hold” rating in a research report on Monday, August 17th. Oppenheimer set a $5.00 price target on Ginkgo Bioworks in a research note on Wednesday, September 9th. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BTIG Research reiterated a “sell” rating and set a $5.00 price objective on shares of Ginkgo Bioworks in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Reduce” and a consensus target price of $6.33.
Ginkgo Bioworks Stock Performance
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $24.05 million. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%. On average, research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Christian Henry sold 5,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total value of $35,400.00. Following the transaction, the director directly owned 19,310 shares of the company’s stock, valued at $136,714.80. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.69% of the company’s stock.
Institutional Trading of Ginkgo Bioworks
Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Ginkgo Bioworks by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock valued at $760,000 after acquiring an additional 2,178 shares during the period. Strategic Advocates LLC grew its position in shares of Ginkgo Bioworks by 808.9% during the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after purchasing an additional 3,899 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $50,000. Arizona State Retirement System bought a new position in shares of Ginkgo Bioworks during the second quarter worth approximately $102,000. Finally, Entropy Technologies LP acquired a new stake in shares of Ginkgo Bioworks in the first quarter valued at approximately $67,000. 78.63% of the stock is owned by institutional investors and hedge funds.
About Ginkgo Bioworks
Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.
The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.
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