Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives $1.40 Consensus PT from Analysts

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) have received an average rating of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1.40.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a research note on Tuesday, July 9th. William Blair lowered Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Morgan Stanley decreased their price target 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, BTIG Research dropped their price objective on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research note on Wednesday, June 26th.

Ginkgo Bioworks Trading Down 15.0 %

Shares of NYSE:DNA opened at $0.31 on Monday. Ginkgo Bioworks has a twelve month low of $0.26 and a twelve month high of $2.47. The company has a market cap of $695.67 million, a PE ratio of -0.72 and a beta of 1.14. The company’s 50 day moving average is $0.40 and its 200 day moving average is $0.86.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. The firm had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts predict that Ginkgo Bioworks will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Ginkgo Bioworks

In related news, Director Marijn E. Dekkers sold 265,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total value of $219,950.00. Following the completion of the sale, the director now owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Harry Sloan purchased 297,619 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average cost of $0.91 per share, with a total value of $270,833.29. Following the purchase, the director now owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total value of $219,950.00. Following the transaction, the director now directly owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The disclosure for this sale can be found here. Insiders sold a total of 291,960 shares of company stock valued at $231,804 in the last three months. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Ginkgo Bioworks in the fourth quarter worth about $24,967,000. Vestmark Advisory Solutions Inc. purchased a new stake in Ginkgo Bioworks during the 4th quarter valued at about $5,044,000. Salem Investment Counselors Inc. raised its holdings in Ginkgo Bioworks by 110.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after acquiring an additional 2,499,425 shares during the last quarter. Lingotto Investment Management LLP lifted its stake in Ginkgo Bioworks by 34.9% in the 4th quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock worth $14,384,000 after purchasing an additional 2,200,000 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Ginkgo Bioworks by 2,683.7% during the 1st quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock worth $2,626,000 after purchasing an additional 2,182,773 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.