Ginkgo Bioworks (NYSE:DNA) Trading Down 1.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares traded down 1.8% during mid-day trading on Wednesday . The company traded as low as $0.41 and last traded at $0.42. 28,558,108 shares were traded during mid-day trading, a decline of 34% from the average session volume of 43,034,904 shares. The stock had previously closed at $0.43.

Analyst Upgrades and Downgrades

DNA has been the subject of a number of research analyst reports. TD Cowen reduced their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. 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 research note on Wednesday, May 15th. William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Finally, BTIG Research lowered Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned 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 $1.90.

Ginkgo Bioworks Trading Down 2.9 %

The firm’s 50 day moving average is $0.72 and its 200 day moving average is $1.12.

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

Insider Activity

In related news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the transaction, the insider now directly owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. Insiders sold a total of 377,415 shares of company stock valued at $321,226 over the last three months. Insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in Ginkgo Bioworks by 8.4% during the third quarter. Barclays PLC now owns 375,329 shares of the company’s stock valued at $678,000 after buying an additional 29,158 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ginkgo Bioworks by 26.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,418,397 shares of the company’s stock valued at $13,427,000 after purchasing an additional 1,554,080 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Ginkgo Bioworks in the third quarter worth approximately $454,000. Mariner LLC boosted its holdings in shares of Ginkgo Bioworks by 2.0% during the third quarter. Mariner LLC now owns 2,077,029 shares of the company’s stock worth $3,759,000 after purchasing an additional 40,935 shares during the period. Finally, Gotham Asset Management LLC grew its position in Ginkgo Bioworks by 25.3% during the third quarter. Gotham Asset Management LLC now owns 1,939,691 shares of the company’s stock valued at $3,511,000 after purchasing an additional 391,872 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.