Ginkgo Bioworks Holdings, Inc. $DNA Stock Sold by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management cut its Ginkgo Bioworks stake by 35.6% in the third quarter, selling 192,993 shares and retaining 348,852 shares worth about $4.48 million.
• Institutional investors and hedge funds own 78.63% of the stock. Company insiders also sold 136,525 shares worth about $1.38 million over the past 90 days.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and a $7.00 price target, with two Sell and two Hold ratings.

Prescott Group Capital Management L.L.C. decreased its position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 35.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,852 shares of the company's stock after selling 192,993 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 0.52% of Ginkgo Bioworks worth $4,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Balance Capital Partners L.P. bought a new stake in shares of Ginkgo Bioworks during the second quarter worth about $1,972,179. Dimensional Fund Advisors LP raised its stake in shares of Ginkgo Bioworks by 23.8% in the first quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company's stock worth $779,000 after purchasing an additional 24,434 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ginkgo Bioworks by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company's stock valued at $760,000 after purchasing an additional 2,178 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $616,000. Finally, Q Fund Management Hong Kong Ltd purchased a new position in shares of Ginkgo Bioworks during the third quarter valued at approximately $505,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Jason R. Kelly sold 45,682 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $10.14, for a total transaction of $463,215.48. Following the sale, the insider owned 129,065 shares in the company, valued at $1,308,719.10. This represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christian O. Henry sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the completion of the transaction, the director directly owned 19,310 shares of the company's stock, valued at $136,714.80. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 136,525 shares of company stock worth $1,379,699 in the last ninety days. 12.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DNA shares. BTIG Research reissued a "sell" rating and issued a $5.00 price target on shares of Ginkgo Bioworks in a research report on Friday, September 4th. Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Thursday, October 15th. Zacks Research upgraded shares of Ginkgo Bioworks to a "hold" rating in a research note on Monday, August 17th. Finally, TD Cowen increased their target price on shares of Ginkgo Bioworks from $9.00 to $11.00 and gave the company a "hold" rating in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $7.00.

Ginkgo Bioworks Stock Performance

Shares of DNA stock opened at $10.74 on Wednesday. The company has a 50 day moving average of $9.68 and a 200-day moving average of $8.59. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $5.37 and a 12-month high of $18.22.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating 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 the consensus estimate of $24.05 million. On average, sell-side analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -3.20 EPS for the current year.

Ginkgo Bioworks Profile

Ginkgo Bioworks is a biotechnology company that develops and deploys biological systems for commercial and industrial applications. Its platform is designed to help customers program cells to produce a wide range of products, including pharmaceuticals, food ingredients, agricultural inputs, specialty chemicals and materials. The company combines biological engineering, automation, software and data science to design, build and test engineered organisms.

Ginkgo provides services through its cell-programming platform and biological engineering foundry, supporting activities such as genetic design, strain construction, laboratory testing and process development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.