Christian Henry Sells 5,000 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Director Christian Henry sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the sale, the director owned 19,310 shares in the company, valued at approximately $136,714.80. The trade was a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ginkgo Bioworks Trading Up 0.8%

Shares of DNA traded up $0.06 during midday trading on Wednesday, hitting $7.04. The stock had a trading volume of 975,327 shares, compared to its average volume of 1,162,634. The business has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $7.88. The firm has a market cap of $474.41 million, a P/E ratio of -1.41 and a beta of 1.76. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in Ginkgo Bioworks in the second quarter valued at approximately $50,000. Arizona State Retirement System acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter valued at $102,000. AXQ Capital LP bought a new stake in Ginkgo Bioworks in the second quarter worth $262,000. Balance Capital Partners L.P. acquired a new position in Ginkgo Bioworks during the second quarter worth $1,972,179. Finally, Entropy Technologies LP acquired a new position in Ginkgo Bioworks during the first quarter worth $67,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DNA. BTIG Research reiterated a “sell” rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday, September 4th. Oppenheimer set a $5.00 target price on shares of Ginkgo Bioworks in a research report on Wednesday, September 9th. TD Cowen lowered shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Zacks Research upgraded shares of Ginkgo Bioworks to a “hold” rating in a report on Monday, August 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $6.33.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.