Ginkgo Bioworks (NYSE:DNA) Trading Up 7.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares shot up 7.7% during trading on Thursday . The stock traded as high as $1.19 and last traded at $1.19. 9,571,491 shares were traded during trading, a decline of 57% from the average session volume of 22,361,441 shares. The stock had previously closed at $1.10.

Wall Street Analyst Weigh In

Several brokerages have commented on DNA. The Goldman Sachs Group cut their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research note on Monday, January 22nd. TD Cowen cut their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Stock Up 5.5 %

The stock has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $1.47. The firm has a market capitalization of $2.50 billion, a P/E ratio of -2.52 and a beta of 1.42.

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

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Jason R. Kelly sold 100,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $1.54, for a total transaction of $154,000.00. Following the completion of the sale, the insider now owns 3,994,680 shares in the company, valued at $6,151,807.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now directly owns 761,737 shares of the company’s stock, valued at $921,701.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason R. Kelly sold 100,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $1.54, for a total transaction of $154,000.00. Following the completion of the sale, the insider now directly owns 3,994,680 shares in the company, valued at $6,151,807.20. The disclosure for this sale can be found here. 15.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in shares of Ginkgo Bioworks by 27.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company’s stock worth $858,000 after acquiring an additional 109,927 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Ginkgo Bioworks by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company’s stock worth $7,435,000 after acquiring an additional 216,434 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Ginkgo Bioworks by 79.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock worth $210,000 after acquiring an additional 51,170 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Ginkgo Bioworks by 15.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after acquiring an additional 7,958,613 shares in the last quarter. Finally, Welch & Forbes LLC purchased a new position in Ginkgo Bioworks in the 3rd quarter valued at about $12,670,000. 78.63% of the stock is 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.