Ginkgo Bioworks (NYSE:DNA) Insider Sells $36,045.00 in Stock

Key Points

• Insider sale: Steven Coen sold 2,403 Ginkgo Bioworks shares for $36,045, reducing his holdings by 4.63% to 49,448 shares.
• Financial performance: Ginkgo reported a quarterly loss of $0.75 per share, beating estimates, but revenue of $20.16 million fell short of the $24.05 million consensus. Analysts expect a full-year loss of $3.20 per share.
• Investor outlook: DNA shares traded at $11.51, while analysts maintain a consensus “Reduce” rating with an average price target of $6.33; institutional investors own 78.63% of the stock.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Steven Coen sold 2,403 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $15.00, for a total transaction of $36,045.00. Following the transaction, the insider owned 49,448 shares in the company, valued at approximately $741,720. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ginkgo Bioworks Price Performance

Shares of NYSE:DNA traded down $0.91 during trading hours on Wednesday, hitting $11.51. The company's stock had a trading volume of 6,453,915 shares, compared to its average volume of 1,391,378. The company has a market capitalization of $774.75 million, a price-to-earnings ratio of -2.30 and a beta of 1.79. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $18.22. The firm's fifty day moving average price is $8.32 and its 200 day moving average price is $8.27.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%.The company had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million. On average, equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Balance Capital Partners L.P. acquired a new position in shares of Ginkgo Bioworks in the second quarter worth about $1,972,179. Renaissance Technologies LLC bought a new stake in Ginkgo Bioworks during the first quarter valued at $616,000. Inspire Investing LLC grew its position in shares of Ginkgo Bioworks by 46.4% during the 1st quarter. Inspire Investing LLC now owns 83,905 shares of the company's stock valued at $514,000 after buying an additional 26,612 shares during the last quarter. AXQ Capital LP acquired a new position in Ginkgo Bioworks during the 2nd quarter valued at approximately $262,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ginkgo Bioworks by 23.8% during the first quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company's stock valued at $779,000 after acquiring an additional 24,434 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DNA shares. Zacks Research raised shares of Ginkgo Bioworks to a "hold" rating in a report on Monday, August 17th. TD Cowen lowered Ginkgo Bioworks from a "buy" rating to a "hold" rating and decreased their price objective for the company from $12.00 to $9.00 in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. BTIG Research restated a "sell" rating and set a $5.00 target price on shares of Ginkgo Bioworks in a research note on Friday, September 4th. Finally, Wall Street Zen raised Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $6.33.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.

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