Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) traded up 11.4% during trading on Wednesday . The company traded as high as $15.41 and last traded at $15.69. 547,208 shares were traded during trading, a decline of 65% from the average session volume of 1,560,692 shares. The stock had previously closed at $14.09.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Wednesday, October 8th. BTIG Research increased their target price on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research report on Monday, August 25th. Cowen restated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $9.00.
Read Our Latest Research Report on Ginkgo Bioworks
Ginkgo Bioworks Stock Up 9.3%
The business has a 50 day simple moving average of $12.52 and a two-hundred day simple moving average of $10.15. The firm has a market cap of $911.86 million, a PE ratio of -2.62 and a beta of 1.54.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.44) by $0.34. The firm had revenue of $49.60 million for the quarter, compared to analyst estimates of $41.60 million. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.
Insiders Place Their Bets
In other Ginkgo Bioworks news, insider Steven P. Coen sold 5,609 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $15.00, for a total value of $84,135.00. Following the completion of the sale, the insider directly owned 5,503 shares in the company, valued at $82,545. This trade represents a 50.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.72% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ginkgo Bioworks
Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Ginkgo Bioworks by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company's stock worth $3,915,000 after acquiring an additional 139,126 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ginkgo Bioworks by 252.8% during the first quarter. Invesco Ltd. now owns 93,684 shares of the company's stock worth $534,000 after purchasing an additional 67,130 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Ginkgo Bioworks by 188.9% in the first quarter. Cubist Systematic Strategies LLC now owns 439,259 shares of the company's stock valued at $2,504,000 after acquiring an additional 287,221 shares during the period. American Century Companies Inc. acquired a new position in Ginkgo Bioworks in the first quarter valued at approximately $190,000. Finally, Forbes J M & Co. LLP lifted 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 acquiring an additional 392,832 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.
Ginkgo Bioworks Company Profile
(
Get Free Report)
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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