Ginkgo Bioworks (NYSE:DNA) Major Shareholder Barry Canton Sells 22,369 Shares of Company Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) major shareholder Barry Canton sold 22,369 shares of Ginkgo Bioworks stock in a transaction on Monday, October 19th. The shares were sold at an average price of $10.14, for a total transaction of $226,821.66. Following the completion of the sale, the insider directly owned 453,951 shares of the company’s stock, valued at approximately $4,603,063.14. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Barry Canton also recently made the following trade(s):

• On Monday, October 19th, Barry Canton sold 18,803 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $10.14, for a total transaction of $190,662.42.

Ginkgo Bioworks Price Performance

Shares of DNA traded up $0.11 during trading hours on Wednesday, hitting $9.97. The stock had a trading volume of 1,766,599 shares, compared to its average volume of 1,454,035. The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $8.60. The firm has a market capitalization of $671.65 million, a P/E ratio of -1.99 and a beta of 1.79. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $5.37 and a 1-year high of $18.22.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%. The business had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.20 EPS for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several large investors have recently bought and sold shares of the stock. Balance Capital Partners L.P. purchased a new position in Ginkgo Bioworks during the 2nd quarter worth $1,972,179. Dimensional Fund Advisors LP grew its stake in shares of Ginkgo Bioworks by 23.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company’s stock worth $779,000 after acquiring an additional 24,434 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ginkgo Bioworks by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock worth $760,000 after acquiring an additional 2,178 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ginkgo Bioworks in the first quarter valued at about $616,000. Finally, Inspire Investing LLC raised its holdings in shares of Ginkgo Bioworks by 46.4% in the first quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock valued at $514,000 after purchasing an additional 26,612 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on DNA shares. Zacks Research upgraded shares of Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. TD Cowen raised their price objective on shares of Ginkgo Bioworks from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Tuesday, October 13th. Oppenheimer set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. BTIG Research reissued a “sell” rating and set a $5.00 target price on shares of Ginkgo Bioworks in a research report on Friday, September 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Reduce” and a consensus target price of $7.00.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.