Ginkgo Bioworks (NYSE:DNA) Trading Down 9.3% - Should You Sell?

Key Points

• Ginkgo Bioworks' stock price dropped 9.3%, closing at $11.92 after trading as low as $11.75, with trading volume down 34% from the average.
• The company reported a loss of ($1.58) earnings per share in its latest quarter, missing analysts' expectations of ($1.23), despite revenues exceeding forecasts at $48.32 million.
• Approximately 78.63% of Ginkgo Bioworks' stock is owned by institutional investors, with several firms increasing their stakes recently.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price was down 9.3% during trading on Friday . The company traded as low as $11.75 and last traded at $11.92. Approximately 998,733 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 1,520,572 shares. The stock had previously closed at $13.14.

Ginkgo Bioworks Stock Performance

The firm has a market cap of $712.92 million, a P/E ratio of -1.33 and a beta of 1.48. The stock has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $9.29.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.35). Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. The firm had revenue of $48.32 million during the quarter, compared to analysts' expectations of $38.70 million. Research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of DNA. KLP Kapitalforvaltning AS bought a new stake in Ginkgo Bioworks during the 4th quarter valued at approximately $46,000. US Bancorp DE lifted its holdings 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 worth $36,000 after buying an additional 1,911 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Ginkgo Bioworks during the fourth quarter valued at $116,000. CWM LLC increased its holdings in Ginkgo Bioworks by 667.6% in the 1st 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. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ginkgo Bioworks in the 2nd quarter valued at $148,000. 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.

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.