Ginkgo Bioworks (NYSE:DNA) Sets New 12-Month High - Time to Buy?

Key Points

• Ginkgo Bioworks shares reached a new 52-week high of $17.58 on Thursday, closing at $16.09 with a trading volume of over 3 million shares.
• Analysts are mixed on the stock, with Cowen maintaining a "buy" rating, while Weiss Ratings issued a "sell" rating, and the average price target for the stock sits at $9.00.
• The company reported earnings of ($1.10) per share, exceeding analyst estimates, and generated revenue of $49.60 million, which was also above expectations of $41.60 million.

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $17.58 and last traded at $16.09, with a volume of 3162472 shares trading hands. The stock had previously closed at $14.82.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cowen reiterated 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 report on Saturday, August 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Wednesday. Finally, BTIG Research upped their target price on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $9.00.

Ginkgo Bioworks Price Performance

The stock has a market capitalization of $906.41 million, a PE ratio of -2.62 and a beta of 1.54. The business has a 50 day moving average price of $12.47 and a 200 day moving average price of $9.93.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, topping analysts' consensus estimates 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 firm 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. On average, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Insider Activity at Ginkgo Bioworks

In other news, insider Steven P. Coen sold 5,609 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total value of $84,135.00. Following the sale, the insider directly owned 5,503 shares of the company's stock, valued at approximately $82,545. This represents a 50.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.72% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DNA. Raymond James Financial Inc. bought a new position in shares of Ginkgo Bioworks during the second quarter valued at $29,000. US Bancorp DE lifted its holdings in shares of Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock valued at $36,000 after purchasing an additional 1,911 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Ginkgo Bioworks during the second quarter valued at $45,000. CWM LLC lifted its holdings in shares of Ginkgo Bioworks by 667.6% during the first quarter. CWM LLC now owns 12,274 shares of the company's stock valued at $70,000 after purchasing an additional 10,675 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Ginkgo Bioworks during the second quarter valued at $71,000. 78.63% of the stock is owned by institutional investors.

About Ginkgo Bioworks

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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