Ginkgo Bioworks (NYSE:DNA) Hits New 12-Month Low at $1.11

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $1.11 and last traded at $1.12, with a volume of 10483236 shares traded. The stock had previously closed at $1.17.

Analyst Ratings Changes

DNA has been the topic of a number of research analyst reports. TD Cowen decreased their price objective on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group decreased their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -2.23 and a beta of 1.42. The business's 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.54.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The business had revenue of $34.76 million for the quarter, compared to analyst estimates of $40.37 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business's revenue for the quarter was down 64.6% on a year-over-year basis. On average, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In related news, insider Jason R. Kelly sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $1.79, for a total value of $179,000.00. Following the sale, the insider now directly owns 4,194,680 shares in the company, valued at approximately $7,508,477.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark E. Dmytruk sold 39,569 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason R. Kelly sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $1.79, for a total transaction of $179,000.00. Following the completion of the sale, the insider now owns 4,194,680 shares in the company, valued at $7,508,477.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,219 shares of company stock worth $448,272. Company insiders own 15.05% of the company's stock.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in Ginkgo Bioworks by 34.6% during the 2nd quarter. BlackRock Inc. now owns 68,202,832 shares of the company's stock worth $126,857,000 after purchasing an additional 17,538,752 shares in the last quarter. ARK Investment Management LLC increased its stake in Ginkgo Bioworks by 9.0% during the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company's stock worth $335,645,000 after purchasing an additional 16,414,434 shares in the last quarter. Norges Bank bought a new position in shares of Ginkgo Bioworks during the 4th quarter worth approximately $24,967,000. State Street Corp grew its stake in shares of Ginkgo Bioworks by 210.3% during the 2nd quarter. State Street Corp now owns 12,411,855 shares of the company's stock worth $29,540,000 after acquiring an additional 8,411,787 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Ginkgo Bioworks by 15.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company's stock worth $106,331,000 after acquiring an additional 7,958,613 shares in the last quarter. 56.84% of the stock is currently owned by institutional investors and hedge funds.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.