Ginkgo Bioworks (NYSE:DNA) Stock Price Down 3.5% - Here's Why

Key Points

• Ginkgo Bioworks' stock price declined by 3.5% to $10.07, significantly dropping in trading volume by 89% compared to its average.
• Analysts have given mixed ratings, with two analysts rating it as a "Buy" and one a "Sell", resulting in a consensus rating of "Hold" and a target price of $9.50.
• In its latest earnings report, Ginkgo Bioworks reported an EPS of ($1.10), exceeding expectations, with revenues of $49.60 million, surpassing projections of $41.60 million.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price dropped 3.5% on Friday . The stock traded as low as $10.05 and last traded at $10.07. Approximately 164,061 shares were traded during trading, a decline of 89% from the average daily volume of 1,536,695 shares. The stock had previously closed at $10.44.

Analyst Upgrades and Downgrades

DNA has been the topic of several research reports. Cowen restated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. BTIG Research lifted their price objective on Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a "sell" rating in a research note on Monday, August 25th. Finally, Wall Street Zen raised Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.50.

Ginkgo Bioworks Stock Up 5.2%

The company has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $9.29. The stock has a market capitalization of $661.92 million, a price-to-earnings ratio of -1.93 and a beta of 1.50.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH grew its holdings in Ginkgo Bioworks by 123.2% during the first quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock worth $9,405,000 after buying an additional 910,668 shares in the last quarter. Millennium Management LLC grew its holdings in Ginkgo Bioworks by 113.1% during the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock worth $8,137,000 after buying an additional 757,535 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ginkgo Bioworks by 104.5% during the second quarter. Geode Capital Management LLC now owns 937,583 shares of the company's stock worth $10,549,000 after buying an additional 479,154 shares in the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in Ginkgo Bioworks by 112.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 775,568 shares of the company's stock worth $8,725,000 after buying an additional 409,851 shares in the last quarter. Finally, Forbes J M & Co. LLP grew its holdings in Ginkgo Bioworks by 56.0% during the first quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock worth $6,239,000 after buying an additional 392,832 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

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.