Ginkgo Bioworks (NYSE:DNA) Stock Price Down 1.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Free Report) shares traded down 1.8% on Wednesday . The company traded as low as $0.41 and last traded at $0.42. 28,558,108 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 43,034,904 shares. The stock had previously closed at $0.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Morgan Stanley lowered their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. BTIG Research cut Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, TD Cowen lowered their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1.90.

View Our Latest Analysis on Ginkgo Bioworks

Ginkgo Bioworks Stock Performance

The business has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.13. The stock has a market cap of $930.95 million, a price-to-earnings ratio of -0.96 and a beta of 1.24.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $37.94 million for the quarter, compared to analysts’ expectations of $45.50 million. Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. During the same quarter in the prior year, the firm earned ($0.08) EPS. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry Sloan acquired 297,619 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the acquisition, the director now directly owns 718,540 shares of the company’s stock, valued at $653,871.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 377,415 shares of company stock worth $321,226. 15.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Ginkgo Bioworks in the 4th quarter worth $25,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Ginkgo Bioworks in the 4th quarter worth $37,000. Paloma Partners Management Co purchased a new position in shares of Ginkgo Bioworks in the 1st quarter worth $28,000. Smith Salley & Associates raised its position in shares of Ginkgo Bioworks by 100.0% in the 4th quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock worth $41,000 after buying an additional 12,000 shares during the period. Finally, Pine Valley Investments Ltd Liability Co purchased a new position in shares of Ginkgo Bioworks in the 4th quarter worth $50,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

About Ginkgo Bioworks

(Get Free Report)

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.

Further Reading

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