Jason Kelly Sells 109,767 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Key Points

• Insider sale: Ginkgo Bioworks co-founder Jason Kelly sold 109,767 shares on April 9 at an average price of $6.40 (total $702,508.80) to cover tax withholding on vested awards, leaving him with 316,483 shares — a 25.75% reduction in his direct ownership.
• Company and market outlook: DNA trades around $6.46 with a market cap near $400M, reported a quarterly EPS beat but revenue miss and large losses (negative margins and ROE), and carries a consensus analyst rating of "Reduce" with a $8.50 target.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Jason Kelly sold 109,767 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $6.40, for a total value of $702,508.80. Following the completion of the sale, the insider directly owned 316,483 shares of the company's stock, valued at approximately $2,025,491.20. This represents a 25.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Up 0.4%

NYSE:DNA traded up $0.03 during trading hours on Friday, reaching $6.46. 747,077 shares of the stock were exchanged, compared to its average volume of 1,127,962. The firm has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $9.56. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $17.58. The stock has a market capitalization of $399.76 million, a P/E ratio of -1.14 and a beta of 1.56.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, beating analysts' consensus estimates of ($1.80) by $0.38. The business had revenue of $33.40 million during the quarter, compared to the consensus estimate of $37.57 million. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%. As a group, analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

DNA has been the topic of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. TD Cowen decreased their price target on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Ginkgo Bioworks from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, BTIG Research cut their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating on the stock in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $8.50.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in DNA. Quarry LP acquired a new stake in Ginkgo Bioworks in the 3rd quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in Ginkgo Bioworks during the 2nd quarter worth $29,000. Strs Ohio bought a new position in shares of Ginkgo Bioworks in the third quarter worth $44,000. Strategic Advocates LLC grew its stake in shares of Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after purchasing an additional 3,899 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Ginkgo Bioworks during the third quarter valued at $74,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

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