Ginkgo Bioworks (NYSE:DNA) Shares Up 3.3%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares shot up 3.3% during trading on Wednesday . The company traded as high as $0.36 and last traded at $0.36. 10,307,682 shares changed hands during trading, a decline of 74% from the average session volume of 39,229,520 shares. The stock had previously closed at $0.35.

Analyst Ratings Changes

A number of brokerages have commented on DNA. BTIG Research decreased their price objective on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a report on Wednesday, June 26th. Morgan Stanley reduced their target price on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. Finally, William Blair lowered Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.56.

Ginkgo Bioworks Price Performance

The firm has a fifty day simple moving average of $0.63 and a two-hundred day simple moving average of $1.06. The firm has a market capitalization of $800.48 million, a P/E ratio of -0.81 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The business had revenue of $37.94 million during the quarter, compared to analyst estimates of $45.50 million. During the same period in the prior year, the company earned ($0.08) earnings per share. On average, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, Director Harry Sloan acquired 297,619 shares of Ginkgo Bioworks stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $0.91 per share, with a total value of $270,833.29. Following the completion of the acquisition, the director now owns 718,540 shares in the company, valued at $653,871.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Harry Sloan bought 297,619 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the transaction, the director now directly owns 718,540 shares in the company, valued at approximately $653,871.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the sale, the director now owns 5,515,364 shares in the company, valued at approximately $4,577,752.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,246 shares of company stock valued at $267,499. Company insiders own 15.05% of the company’s stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management purchased a new stake in shares of Ginkgo Bioworks in the fourth quarter worth $25,000. Paloma Partners Management Co purchased a new stake in shares of Ginkgo Bioworks in the first quarter worth $28,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Ginkgo Bioworks in the first quarter worth $35,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Ginkgo Bioworks in the fourth quarter worth $37,000. Finally, Russell Investments Group Ltd. raised its position in shares of Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after buying an additional 31,626 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.