Ginkgo Bioworks (NYSE:DNA) Trading Down 6.2% - Here's What Happened

Key Points

• Ginkgo Bioworks shares fell by 6.2%, trading between $11.58 and $11.66, with a significant decline in trading volume.
• Analysts have mixed ratings, with one "buy", one "sell", and an average target price of $9.00 after BTIG Research raised the target from $6.00.
• The company reported quarterly earnings of ($1.10) EPS, surpassing expectations, and generated $49.60 million in revenue, exceeding estimated values.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares dropped 6.2% during mid-day trading on Wednesday . The stock traded as low as $11.66 and last traded at $11.58. Approximately 518,677 shares changed hands during trading, a decline of 66% from the average daily volume of 1,534,291 shares. The stock had previously closed at $12.35.

Analyst Ratings Changes

DNA has been the topic of several research reports. Cowen restated a "buy" rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. Wall Street Zen upgraded Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, BTIG Research increased their price target on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Ginkgo Bioworks has an average rating of "Hold" and an average target price of $9.00.

Ginkgo Bioworks Price Performance

The firm's 50-day simple moving average is $12.11 and its 200 day simple moving average is $9.42. The firm has a market capitalization of $700.63 million, a price-to-earnings ratio of -2.02 and a beta of 1.50.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.44) by $0.34. The company had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Ginkgo Bioworks in the 2nd quarter worth $29,000. Ameritas Investment Partners Inc. bought a new position in shares of Ginkgo Bioworks in the second quarter worth approximately $45,000. US Bancorp DE raised its holdings in shares of Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock valued at $36,000 after purchasing an additional 1,911 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Ginkgo Bioworks during the second quarter valued at approximately $71,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $99,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

About Ginkgo Bioworks

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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