Ginkgo Bioworks (NYSE:DNA) Shares Down 4.1% Following Insider Selling

Key Points

• Ginkgo Bioworks' shares dropped 4.1% after insider Steven P. Coen sold 5,609 shares, indicating a significant reduction of his investment by over 50%.
• Despite the decline in stock price, analysts have mixed ratings on Ginkgo Bioworks, with one firm maintaining a buy rating while the consensus price target stands at $9.00.
• Ginkgo Bioworks reported better-than-expected quarterly earnings, with a revenue of $49.60 million, exceeding analyst estimates, but continues to face a negative net margin of 136.56%.

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) fell 4.1% on Monday following insider selling activity. The stock traded as low as $15.37 and last traded at $15.48. 384,260 shares traded hands during trading, a decline of 75% from the average session volume of 1,549,865 shares. The stock had previously closed at $16.14.

Specifically, insider Steven P. Coen sold 5,609 shares of the company's 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 transaction, the insider directly owned 5,503 shares of the company's stock, valued at $82,545. This represents a 50.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DNA. Cowen reissued a "buy" rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Saturday, September 27th. 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 increased 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. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks presently has an average rating of "Reduce" and a consensus price target of $9.00.

Ginkgo Bioworks Stock Performance

The firm's 50 day moving average price is $12.35 and its 200-day moving average price is $9.80. The firm has a market capitalization of $914.05 million, a PE ratio of -2.63 and a beta of 1.54.

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 for the quarter, beating analysts' consensus estimates of ($1.44) by $0.34. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. 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. On average, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in Ginkgo Bioworks in the 2nd quarter valued at approximately $29,000. Ameritas Investment Partners Inc. acquired a new position in shares of Ginkgo Bioworks in the second quarter worth $45,000. US Bancorp DE grew its stake in shares of Ginkgo Bioworks by 43.5% in the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock worth $36,000 after acquiring an additional 1,911 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Ginkgo Bioworks in the second quarter worth $71,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ginkgo Bioworks in the second quarter worth $99,000. 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.

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