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

Key Points

• Barry Canton, a major shareholder, sold 13,155 shares on April 8 at an average price of $6.93 for $91,164.15 and another 13,116 shares on April 9, trimming his stake by 3.61% to 351,684 shares; the sales were disclosed to the SEC and made to cover tax withholding on vested equity awards.
• Ginkgo Bioworks (NYSE:DNA) is trading near $6.46 with a market cap of about $399.8M, has negative earnings (analysts expect around -10.02 EPS this year), and carries a consensus Reduce rating with an average target price of $8.50.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) major shareholder Barry Canton 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 of the company's stock, valued at $2,437,170.12. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Barry Canton also recently made the following trade(s):

• On Thursday, April 9th, Barry Canton sold 13,116 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $6.40, for a total value of $83,942.40.

Ginkgo Bioworks Stock Performance

DNA stock traded up $0.03 during midday trading on Friday, hitting $6.46. 747,077 shares of the company's stock were exchanged, compared to its average volume of 1,127,962. Ginkgo Bioworks Holdings, Inc. has a one year low of $5.37 and a one year high of $17.58. The company has a market cap of $399.76 million, a PE ratio of -1.14 and a beta of 1.56. The stock's fifty day moving average price is $7.68 and its 200-day moving average price is $9.56.

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

Analyst Ratings Changes

Several brokerages have commented on DNA. Weiss Ratings restated a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. TD Cowen reduced their price target on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Ginkgo Bioworks from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, BTIG Research dropped their price objective on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating on the stock in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Ginkgo Bioworks has a consensus rating of "Reduce" and an average target price of $8.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Ginkgo Bioworks by 23.9% in the fourth quarter. Invesco Ltd. now owns 261,706 shares of the company's stock valued at $2,175,000 after purchasing an additional 50,565 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Ginkgo Bioworks during the 4th quarter worth about $1,612,000. Numerai GP LLC boosted its stake in shares of Ginkgo Bioworks by 94.1% during the 4th quarter. Numerai GP LLC now owns 25,625 shares of the company's stock worth $213,000 after buying an additional 12,421 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Ginkgo Bioworks by 113.9% during the 4th quarter. Millennium Management LLC now owns 48,901 shares of the company's stock worth $406,000 after buying an additional 26,037 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of 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 acquiring an additional 25,716 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Ginkgo Bioworks Company Profile

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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