Ginkgo Bioworks (NYSE:DNA) Shares Up 9.4%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price shot up 9.4% during mid-day trading on Friday . The stock traded as high as $1.00 and last traded at $0.94. 43,266,463 shares were traded during trading, an increase of 55% from the average session volume of 27,919,715 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

Several research firms have commented on DNA. TD Cowen lowered their target price on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.20.

Ginkgo Bioworks Trading Up 10.9 %

The company has a 50-day moving average of $1.08 and a 200 day moving average of $1.31.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The company had revenue of $34.76 million for the quarter, compared to the consensus estimate of $40.37 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The firm’s revenue was down 64.6% compared to the same quarter last year. On average, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark E. Dmytruk sold 51,169 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNA. Spire Wealth Management acquired a new stake in Ginkgo Bioworks in the 4th quarter valued at about $25,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks in the 4th quarter worth approximately $37,000. Stratos Wealth Partners LTD. acquired a new position in Ginkgo Bioworks during the 3rd quarter worth $43,000. Smith Salley & Associates boosted its position in Ginkgo Bioworks by 100.0% in the 4th quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock valued at $41,000 after buying an additional 12,000 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

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.