Ginkgo Bioworks Holdings, Inc. $DNA Stock Position Decreased by EcoR1 Capital LLC

Key Points

• EcoR1 Capital LLC has reduced its stake in Ginkgo Bioworks Holdings, Inc. (DNA) by 16.1%, now holding 1,462,328 shares after selling 281,016 shares in the first quarter.
• Several institutional investors, such as Bank of America Corp DE and Erste Asset Management GmbH, have significantly increased their positions in Ginkgo Bioworks, with Bank of America raising its holdings by 780.6%.
• Ginkgo Bioworks reported a quarterly earnings loss of ($1.10) EPS, exceeding analysts' expectations, while also earning $49.60 million in revenue during the same period.

EcoR1 Capital LLC trimmed its stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,462,328 shares of the company's stock after selling 281,016 shares during the quarter. Ginkgo Bioworks comprises 0.5% of EcoR1 Capital LLC's portfolio, making the stock its 25th largest position. EcoR1 Capital LLC owned approximately 2.52% of Ginkgo Bioworks worth $8,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DNA. Barclays PLC raised its position in shares of Ginkgo Bioworks by 353.6% during the 4th quarter. Barclays PLC now owns 54,166 shares of the company's stock worth $531,000 after purchasing an additional 42,224 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ginkgo Bioworks by 4.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 82,815 shares of the company's stock worth $814,000 after purchasing an additional 3,152 shares during the period. Northern Trust Corp increased its position in Ginkgo Bioworks by 11.5% in the 4th quarter. Northern Trust Corp now owns 94,876 shares of the company's stock valued at $932,000 after acquiring an additional 9,791 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Ginkgo Bioworks in the 4th quarter valued at approximately $1,000,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Ginkgo Bioworks in the 4th quarter valued at approximately $116,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on DNA shares. Cowen restated a "buy" rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. Wall Street Zen upgraded Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, BTIG Research raised their target price on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.50.

Ginkgo Bioworks Stock Performance

Shares of DNA stock traded up $0.04 during mid-day trading on Monday, hitting $11.19. 1,371,563 shares of the stock traded hands, compared to its average volume of 1,542,796. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.00 and a twelve month high of $16.85. The firm has a market cap of $662.15 million, a price-to-earnings ratio of -1.91 and a beta of 1.50. The company's 50-day simple moving average is $12.16 and its 200-day simple moving average is $9.24.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.44) by $0.34. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%.The company had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

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.