Ginkgo Bioworks (NYSE:DNA) Shares Down 8.4% - Here's Why

Key Points

• Ginkgo Bioworks shares dropped 8.4%, closing at $13.86, with trading volume significantly down by 74% from the average.
• Wall Street analysts have mixed ratings, with one maintaining a "buy" rating and two issuing "sell" ratings, leading to a consensus rating of "Reduce" and a price target of $9.00.
• Insider Steven P. Coen sold 5,609 shares at $15.00 each, indicating a 50.48% reduction in his ownership of the company's stock.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price fell 8.4% during trading on Friday . The stock traded as low as $13.95 and last traded at $13.86. 413,080 shares traded hands during trading, a decline of 74% from the average session volume of 1,562,066 shares. The stock had previously closed at $15.12.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DNA. Wall Street Zen upgraded Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Cowen reaffirmed 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 Wednesday, October 8th. Finally, BTIG Research raised their price target 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $9.00.

Ginkgo Bioworks Trading Down 12.1%

The firm has a market cap of $786.53 million, a price-to-earnings ratio of -2.27 and a beta of 1.54. The stock has a 50-day moving average of $12.60 and a two-hundred day moving average of $10.25.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Sell-side analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, insider Steven P. Coen sold 5,609 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total transaction of $84,135.00. Following the completion of the sale, the insider directly owned 5,503 shares of the company's stock, valued at $82,545. This trade represents a 50.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Erste Asset Management GmbH grew its holdings in shares of Ginkgo Bioworks by 123.2% during the 1st quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock worth $9,405,000 after purchasing an additional 910,668 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock worth $8,137,000 after purchasing an additional 757,535 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ginkgo Bioworks by 104.5% during the 2nd quarter. Geode Capital Management LLC now owns 937,583 shares of the company's stock worth $10,549,000 after purchasing an additional 479,154 shares in the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in shares of Ginkgo Bioworks by 112.1% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 775,568 shares of the company's stock worth $8,725,000 after purchasing an additional 409,851 shares in the last quarter. Finally, Forbes J M & Co. LLP boosted its stake in Ginkgo Bioworks by 56.0% in the 1st quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock valued at $6,239,000 after buying an additional 392,832 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

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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