Forbes J M & Co. LLP Sells 17,323 Shares of Ginkgo Bioworks Holdings, Inc. $DNA

Key Points

• Forbes J M & Co. LLP reduced their stake in Ginkgo Bioworks by 1.6%, holding 1,077,241 shares valued at approximately $12.12 million after selling 17,323 shares.
• Equities analysts have mixed ratings on Ginkgo Bioworks, with a revised price target of $9.00; one analyst rated it as a "Buy" and another as a "Sell."
• Ginkgo Bioworks reported a loss of ($1.10) earnings per share for the last quarter, which was better than analysts' expectations of ($1.44), with revenues reaching $49.60 million.

Forbes J M & Co. LLP cut its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,077,241 shares of the company's stock after selling 17,323 shares during the period. Forbes J M & Co. LLP owned approximately 1.84% of Ginkgo Bioworks worth $12,119,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DNA. Erste Asset Management GmbH raised its stake in shares of Ginkgo Bioworks by 123.2% during the first quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock valued at $9,405,000 after acquiring an additional 910,668 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ginkgo Bioworks by 113.1% during the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after acquiring an additional 757,535 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ginkgo Bioworks by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company's stock valued at $3,915,000 after acquiring an additional 139,126 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Ginkgo Bioworks by 188.9% during the first quarter. Cubist Systematic Strategies LLC now owns 439,259 shares of the company's stock valued at $2,504,000 after acquiring an additional 287,221 shares during the last quarter. Finally, PDT Partners LLC raised its stake in shares of Ginkgo Bioworks by 104.0% during the first quarter. PDT Partners LLC now owns 385,153 shares of the company's stock valued at $2,195,000 after acquiring an additional 196,350 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BTIG Research upped their price objective on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research note on Monday, August 25th. Cowen reaffirmed a "buy" rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of "Hold" and an average price target of $9.00.

Ginkgo Bioworks Price Performance

DNA stock opened at $14.59 on Wednesday. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.00 and a 1 year high of $16.85. The company has a market cap of $863.73 million, a P/E ratio of -2.49 and a beta of 1.50. The firm has a 50-day moving average of $12.27 and a 200 day moving average of $9.61.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.44) by $0.34. The business had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal 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.

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