Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Mark E. Dmytruk Sells 47,806 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the sale, the insider now owns 925,400 shares in the company, valued at $777,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ginkgo Bioworks Price Performance

NYSE:DNA traded up $0.03 during midday trading on Monday, hitting $0.99. The company’s stock had a trading volume of 30,732,457 shares, compared to its average volume of 28,135,193. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $0.74 and a fifty-two week high of $2.55. The firm’s 50 day moving average is $1.08 and its 200-day moving average is $1.31. The firm has a market cap of $2.13 billion, a P/E ratio of -2.17 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). The business had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The company’s revenue for the quarter was down 64.6% on a year-over-year basis. During the same period last year, the business earned ($0.04) EPS. As a group, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

DNA has been the topic of several analyst reports. TD Cowen cut their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group cut their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ginkgo Bioworks has a consensus rating of “Hold” and an average target price of $2.20.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC lifted its stake in shares of Ginkgo Bioworks by 9.0% in the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock valued at $335,645,000 after purchasing an additional 16,414,434 shares during the period. Norges Bank purchased a new stake in shares of Ginkgo Bioworks during the 4th quarter worth about $24,967,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Ginkgo Bioworks by 15.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after purchasing an additional 7,958,613 shares during the period. Welch & Forbes LLC acquired a new stake in Ginkgo Bioworks in the third quarter valued at approximately $12,670,000. Finally, Vanguard Group Inc. increased its position in shares of Ginkgo Bioworks by 3.1% in the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after buying an additional 4,016,221 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.