Ginkgo Bioworks (NYSE:DNA) Insider Sells $91,164.15 in Stock

Key Points

• Insider Reshma Shetty sold 13,155 shares for $91,164.15 (at $6.93 each) on April 8 to cover tax withholding on vested awards, reducing her stake by 3.61% to 351,684 shares (≈$2.44M).
• Ginkgo's latest quarter showed EPS of ($1.42) that beat estimates while revenue of $33.4M missed expectations, the company remains deeply unprofitable and analysts' consensus is "Reduce" with an average target of $8.50.
• The stock trades near its 52-week low (mid-day $6.46 vs a $5.37 low and $17.58 high), market cap ≈$400M, and institutional investors own about 78.63% with several funds (Invesco, Millennium, Tudor) recently increasing positions.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Reshma Shetty sold 13,155 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $6.93, for a total transaction of $91,164.15. Following the completion of the transaction, the insider directly owned 351,684 shares in the company, valued at $2,437,170.12. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Price Performance

Shares of DNA stock traded up $0.03 during mid-day trading on Friday, hitting $6.46. The stock had a trading volume of 747,077 shares, compared to its average volume of 1,127,962. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $17.58. The firm has a market cap of $399.76 million, a PE ratio of -1.14 and a beta of 1.56. The company's 50-day simple moving average is $7.68 and its 200-day simple moving average is $9.56.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.80) by $0.38. The business had revenue of $33.40 million for the quarter, compared to analyst estimates of $37.57 million. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. On average, analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Analysts Set New Price Targets

DNA has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. TD Cowen decreased their price target on Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Wall Street Zen lowered Ginkgo Bioworks from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, BTIG Research cut their price objective on Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating for the company in a research report on Thursday, March 12th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of "Reduce" and an average target price of $8.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in shares of Ginkgo Bioworks by 23.9% during the 4th quarter. Invesco Ltd. now owns 261,706 shares of the company's stock valued at $2,175,000 after acquiring an additional 50,565 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter worth approximately $1,612,000. Numerai GP LLC grew its holdings in shares of Ginkgo Bioworks by 94.1% in the 4th quarter. Numerai GP LLC now owns 25,625 shares of the company's stock worth $213,000 after acquiring an additional 12,421 shares during the period. Millennium Management LLC increased its stake in Ginkgo Bioworks by 113.9% in the 4th quarter. Millennium Management LLC now owns 48,901 shares of the company's stock valued at $406,000 after purchasing an additional 26,037 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Ginkgo Bioworks by 81.4% in the 4th quarter. Inspire Investing LLC now owns 57,293 shares of the company's stock valued at $476,000 after purchasing an additional 25,716 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

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