Ginkgo Bioworks (NYSE:DNA) Stock Price Up 10.1% - Time to Buy?

Key Points

• Ginkgo Bioworks shares surged 10.1% to $13.42, with a trading volume of approximately 1.19 million shares, reflecting a 22% decrease from its average volume.
• The company reported a loss of ($1.58) EPS in its latest earnings, missing expectations, but its revenue of $48.32 million surpassed estimates.
• Institutional investors like Barclays PLC and Renaissance Technologies significantly increased their stakes, with hedge funds owning 78.63% of the company’s stock.

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) rose 10.1% during trading on Monday . The company traded as high as $13.39 and last traded at $13.42. Approximately 1,191,451 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,520,782 shares. The stock had previously closed at $12.19.

Ginkgo Bioworks Stock Up 11.7%

The company has a market cap of $797.21 million, a PE ratio of -1.49 and a beta of 1.50. The business's fifty day moving average is $10.05 and its 200-day moving average is $9.34.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its 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). The business had revenue of $48.32 million for the quarter, compared to the consensus estimate of $38.70 million. Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. Analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in shares of Ginkgo Bioworks by 353.6% during the fourth quarter. Barclays PLC now owns 54,166 shares of the company's stock worth $531,000 after buying an additional 42,224 shares in the last quarter. Forbes J M & Co. LLP grew its holdings in Ginkgo Bioworks by 56.0% in the first 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ginkgo Bioworks by 15.9% during the fourth 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 acquiring an additional 5,746 shares during the last quarter. Renaissance Technologies LLC boosted 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 worth $1,126,000 after buying an additional 45,200 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at about $665,000. Hedge funds and other 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.

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.