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

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $14.14, but opened at $13.47. Ginkgo Bioworks shares last traded at $14.89, with a volume of 1,868,174 shares traded.

Ginkgo Bioworks Price Performance

The company has a fifty day moving average of $9.50 and a 200-day moving average of $9.23. The firm has a market cap of $816.79 million, a P/E ratio of -1.52 and a beta of 1.48.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.35). Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. The company had revenue of $48.32 million for the quarter, compared to the consensus estimate of $38.70 million. On average, sell-side analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake in Ginkgo Bioworks by 353.6% in the 4th quarter. Barclays PLC now owns 54,166 shares of the company's stock valued at $531,000 after purchasing an additional 42,224 shares during the period. Forbes J M & Co. LLP grew 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 purchasing an additional 392,832 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ginkgo Bioworks by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,995 shares of the company's stock valued at $412,000 after purchasing an additional 5,746 shares during the period. Renaissance Technologies LLC grew its stake in Ginkgo Bioworks by 65.1% in the 4th quarter. Renaissance Technologies LLC now owns 114,654 shares of the company's stock valued at $1,126,000 after purchasing an additional 45,200 shares during the period. Finally, Marshall Wace LLP bought a new position in Ginkgo Bioworks in the 4th quarter valued at $665,000. Institutional investors own 78.63% of the company's stock.

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.