Ginkgo Bioworks (NYSE:DNA) Stock Price Down 6.2% - What's Next?

Key Points

• Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw its stock price drop by 6.2%, trading as low as $12.62 compared to a previous close of $13.46.
• The company reported a quarterly earnings result of ($1.10) EPS, surpassing the consensus estimate of ($1.44) by $0.34, with revenues of $49.60 million compared to estimates of $41.60 million.
• 78.63% of Ginkgo Bioworks stock is held by institutional investors, indicating significant interest from large managers in the company's potential.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price was down 6.2% during mid-day trading on Friday . The stock traded as low as $12.77 and last traded at $12.62. Approximately 345,252 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,514,668 shares. The stock had previously closed at $13.46.

Ginkgo Bioworks Stock Down 3.8%

The company has a market capitalization of $758.02 million, a price-to-earnings ratio of -1.41 and a beta of 1.50. The company has a 50-day moving average price of $10.59 and a 200-day moving average price of $9.44.

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. The company had revenue of $49.60 million for the quarter, compared to the consensus estimate of $41.60 million. Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. Equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors have recently added to or reduced their stakes in DNA. US Bancorp DE raised 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 valued at $36,000 after acquiring an additional 1,911 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $46,000. CWM LLC raised its stake in shares of Ginkgo Bioworks by 667.6% in the first quarter. CWM LLC now owns 12,274 shares of the company's stock valued at $70,000 after acquiring an additional 10,675 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $76,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $99,000. 78.63% of the stock is owned by institutional investors and hedge funds.

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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