Insider Selling: Ginkgo Bioworks (NYSE:DNA) Insider Sells 1,312 Shares of Stock

Key Points

• Insider Steven Coen of Ginkgo Bioworks sold 1,312 shares at an average price of $13.65, decreasing his ownership by 16.30% to 6,738 shares.
• Ginkgo Bioworks' stock has seen a 3.6% decline, currently trading at $13.14, while its market cap stands at approximately $777.83 million.
• Analysts have mixed opinions on Ginkgo Bioworks, with an average rating of "Reduce" and a target price of $9.00, while one analyst has issued a Buy rating.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Steven Coen sold 1,312 shares of the firm's stock in a transaction on Friday, October 17th. The shares were sold at an average price of $13.65, for a total value of $17,908.80. Following the transaction, the insider owned 6,738 shares in the company, valued at approximately $91,973.70. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ginkgo Bioworks Stock Down 3.6%

NYSE:DNA traded down $0.49 during trading hours on Tuesday, hitting $13.14. 963,579 shares of the company traded hands, compared to its average volume of 1,564,519. The firm's 50-day simple moving average is $12.65 and its 200-day simple moving average is $10.42. Ginkgo Bioworks Holdings, Inc. has a one year low of $5.00 and a one year high of $17.58. The company has a market cap of $777.83 million, a PE ratio of -2.24 and a beta of 1.54.

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, beating the consensus estimate of ($1.44) by $0.34. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%.The business had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DNA. Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. BTIG Research lifted their price objective on Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a "sell" rating in a report on Monday, August 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $9.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH grew its holdings in Ginkgo Bioworks by 123.2% during the 1st quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company's stock valued at $9,405,000 after buying an additional 910,668 shares in the last quarter. Legal & General Group Plc grew its holdings in Ginkgo Bioworks by 5.1% during the 2nd quarter. Legal & General Group Plc now owns 1,490,521 shares of the company's stock valued at $16,768,000 after buying an additional 71,927 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after acquiring an additional 757,535 shares during the last quarter. Forbes J M & Co. LLP boosted its position in shares of Ginkgo Bioworks by 56.0% during the 1st quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company's stock valued at $6,239,000 after acquiring an additional 392,832 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ginkgo Bioworks by 104.5% during the 2nd quarter. Geode Capital Management LLC now owns 937,583 shares of the company's stock valued at $10,549,000 after acquiring an additional 479,154 shares during the last quarter. 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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