Ginkgo Bioworks (NYSE:DNA) Shares Down 3.5% - Here's What Happened

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 share price dropped 3.5% on Friday . The company traded as low as $10.05 and last traded at $10.07. Approximately 164,061 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,536,695 shares. The stock had previously closed at $10.44.

Wall Street Analyst Weigh In

DNA has been the subject of a number of recent analyst reports. Cowen reissued a "buy" rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. Wall Street Zen raised Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, BTIG Research lifted their price target on Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a "sell" rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $9.50.

Ginkgo Bioworks Trading Down 3.5%

The stock has a 50-day simple moving average of $12.06 and a 200 day simple moving average of $9.26. The company has a market cap of $596.14 million, a price-to-earnings ratio of -1.72 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) 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 company had revenue of $49.60 million during the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $29,000. US Bancorp DE lifted its holdings in shares of Ginkgo Bioworks by 43.5% in the 1st quarter. US Bancorp DE now owns 6,302 shares of the company's stock valued at $36,000 after buying an additional 1,911 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $45,000. CWM LLC lifted its holdings in shares of Ginkgo Bioworks by 667.6% in the 1st quarter. CWM LLC now owns 12,274 shares of the company's stock valued at $70,000 after buying an additional 10,675 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.