Ginkgo Bioworks (NYSE:DNA) Hits New 52-Week Low at $1.03

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $1.03 and last traded at $1.05, with a volume of 20399351 shares trading hands. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DNA shares. TD Cowen dropped their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group dropped their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating on the stock in a research report on Monday, January 22nd. One equities 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The company has a market cap of $2.26 billion, a P/E ratio of -2.23 and a beta of 1.35. The business has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.41.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $34.76 million for the quarter, compared to the consensus estimate of $40.37 million. Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The business's revenue for the quarter was down 64.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. Equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the firm's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the transaction, the insider now owns 761,737 shares of the company's stock, valued at $921,701.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the stock in a transaction on Friday, February 2nd. The stock was 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 of the company's stock, valued at $921,701.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark E. Dmytruk sold 51,169 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares of the company's stock, valued at approximately $908,332.95. The disclosure for this sale can be found here. Insiders own 15.05% of the company's stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently made changes to their positions in DNA. Exchange Traded Concepts LLC increased its position in Ginkgo Bioworks by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company's stock valued at $858,000 after acquiring an additional 109,927 shares during the period. Vanguard Group Inc. raised its stake in shares of Ginkgo Bioworks by 3.1% during the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company's stock valued at $239,494,000 after purchasing an additional 4,016,221 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Ginkgo Bioworks by 79.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company's stock valued at $210,000 after purchasing an additional 51,170 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Ginkgo Bioworks by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company's stock worth $7,435,000 after purchasing an additional 216,434 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Ginkgo Bioworks by 15.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company's stock valued at $106,331,000 after buying an additional 7,958,613 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Ginkgo Bioworks Company Profile

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.