Insider Selling: Ginkgo Bioworks (NYSE:DNA) Director Sells $35,400.00 in Stock

Key Points

• Insider sale: Director Christian Henry sold 5,000 Ginkgo Bioworks shares for approximately $35,400, reducing his direct ownership by 20.57% to 19,310 shares.
• Financial performance: Ginkgo reported a quarterly loss of $0.75 per share, beating estimates, but revenue of $20.16 million fell short of expectations and the company remains deeply unprofitable.
• Market outlook: Shares traded around $7.04, while analysts’ average rating was “Reduce” with an average price target of $6.33; two firms rated the stock “Sell” and two rated it “Hold.”

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) Director Christian Henry sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total value of $35,400.00. Following the transaction, the director directly owned 19,310 shares in the company, valued at $136,714.80. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Ginkgo Bioworks Trading Up 0.8%

DNA stock traded up $0.06 during trading on Wednesday, hitting $7.04. The company had a trading volume of 975,327 shares, compared to its average volume of 1,162,634. The firm has a market capitalization of $474.41 million, a price-to-earnings ratio of -1.41 and a beta of 1.76. The business has a 50 day moving average of $7.67 and a 200 day moving average of $7.88. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $17.58.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The firm had revenue of $20.16 million for the quarter, compared to analysts' expectations of $24.05 million. As a group, equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DNA. Oppenheimer set a $5.00 target price on Ginkgo Bioworks in a research report on Wednesday, September 9th. Zacks Research upgraded Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. BTIG Research restated a "sell" rating and issued a $5.00 price objective on shares of Ginkgo Bioworks in a report on Friday, September 4th. Finally, Wall Street Zen cut Ginkgo Bioworks from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $6.33.

Institutional Trading of Ginkgo Bioworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strategic Advocates LLC boosted its holdings in Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after buying an additional 3,899 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Ginkgo Bioworks in the second quarter valued at $50,000. Western Wealth Management LLC acquired a new stake in shares of Ginkgo Bioworks during the 4th quarter valued at $83,000. Arizona State Retirement System bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth $102,000. Finally, Entropy Technologies LP acquired a new position in shares of Ginkgo Bioworks in the 1st quarter worth $67,000. 78.63% of the stock is owned by institutional investors and hedge funds.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.