Ginkgo Bioworks (NYSE:DNA) Trading 9% Higher - What's Next?

Key Points

• Ginkgo Bioworks (NYSE:DNA) shares rose by 9% on Wednesday, trading at $12.61, up from a previous close of $11.56.
• The company recently reported a quarterly earnings per share (EPS) of ($1.10), exceeding the consensus estimate of ($1.44), with revenue of $49.60 million surpassing expectations of $41.60 million.
• Noteworthy institutional interest, with 78.63% of the stock owned by hedge funds and institutional investors, indicating strong investor confidence in the company.

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) rose 9% on Wednesday . The stock traded as high as $12.60 and last traded at $12.61. Approximately 1,147,848 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,523,174 shares. The stock had previously closed at $11.56.

Analyst Upgrades and Downgrades

Separately, Cowen restated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th.

Ginkgo Bioworks Stock Performance

The business has a 50 day simple moving average of $10.87 and a 200-day simple moving average of $9.41. The firm has a market capitalization of $782.55 million, a price-to-earnings ratio of -2.28 and a beta of 1.50.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $49.60 million during the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%. Equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its stake in Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock worth $36,000 after acquiring an additional 1,911 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Ginkgo Bioworks during the 2nd quarter worth approximately $45,000. CWM LLC lifted its holdings in Ginkgo Bioworks by 667.6% during the 1st quarter. CWM LLC now owns 12,274 shares of the company's stock worth $70,000 after buying an additional 10,675 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Ginkgo Bioworks in the 1st quarter valued at approximately $76,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth $99,000. 78.63% of the stock is currently 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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