Insider Selling: Ginkgo Bioworks (NYSE:DNA) Insider Sells $36,045.00 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report) insider Steven Coen sold 2,403 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $15.00, for a total value of $36,045.00. Following the transaction, the insider directly owned 49,448 shares in the company, valued at $741,720. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ginkgo Bioworks Trading Up 14.2%

NYSE DNA opened at $12.95 on Friday. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.37 and a 12 month high of $18.22. The stock has a 50 day moving average of $8.56 and a 200-day moving average of $8.36. The company has a market cap of $872.05 million, a PE ratio of -2.58 and a beta of 1.79.

Ginkgo Bioworks (NYSE:DNA – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million. As a group, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.20 EPS for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNA. Balance Capital Partners L.P. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at approximately $1,972,179. Dimensional Fund Advisors LP boosted its position in shares of Ginkgo Bioworks by 23.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company’s stock worth $779,000 after acquiring an additional 24,434 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ginkgo Bioworks by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock worth $760,000 after acquiring an additional 2,178 shares in the last quarter. Renaissance Technologies LLC bought a new position in Ginkgo Bioworks in the first quarter valued at approximately $616,000. Finally, Inspire Investing LLC increased its stake in Ginkgo Bioworks by 46.4% in the first quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock valued at $514,000 after acquiring an additional 26,612 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DNA. BTIG Research restated a “sell” rating and set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Friday, September 4th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. TD Cowen lowered Ginkgo Bioworks from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $9.00 in a report on Friday, August 7th. Finally, Oppenheimer set a $5.00 target price on shares of Ginkgo Bioworks in a research report on Wednesday, September 9th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Ginkgo Bioworks has a consensus rating of “Reduce” and an average price target of $6.33.

Check Out Our Latest Stock Analysis on Ginkgo Bioworks

About Ginkgo Bioworks

(Get Free Report)

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.

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