Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $0.85 and last traded at $0.89, with a volume of 37464582 shares changing hands. The stock had previously closed at $0.91.
Analyst Upgrades and Downgrades
DNA has been the topic of a number of research analyst reports. TD Cowen reduced their price target on 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 reduced their price target on Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating on the stock in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ginkgo Bioworks presently has an average rating of "Hold" and a consensus price target of $2.20.
Read Our Latest Analysis on Ginkgo Bioworks
Ginkgo Bioworks Stock Performance
The company has a 50-day simple moving average of $1.21 and a two-hundred day simple moving average of $1.38. The firm has a market capitalization of $1.87 billion, a P/E ratio of -1.85 and a beta of 1.35.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share 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 net margin of 355.08% and a negative return on equity of 48.23%. The business's revenue was down 64.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.
Insider Buying and Selling at Ginkgo Bioworks
In other news, insider Mark E. Dmytruk sold 51,169 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the sale, the insider now directly owns 865,079 shares of the company's stock, valued at approximately $908,332.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Mark E. Dmytruk sold 39,569 shares of the business's stock in a transaction that occurred 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 approximately $921,701.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark E. Dmytruk sold 51,169 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. Insiders own 15.05% of the company's stock.
Institutional Trading of Ginkgo Bioworks
A number of hedge funds have recently made changes to their positions in DNA. Envestnet Asset Management Inc. bought a new position in Ginkgo Bioworks in the 1st quarter valued at approximately $211,000. ProShare Advisors LLC bought a new position in Ginkgo Bioworks in the 1st quarter valued at approximately $284,000. JPMorgan Chase & Co. lifted its position in Ginkgo Bioworks by 125.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company's stock valued at $10,865,000 after acquiring an additional 1,498,987 shares in the last quarter. Raymond James & Associates lifted its position in Ginkgo Bioworks by 299.5% in the 1st quarter. Raymond James & Associates now owns 88,918 shares of the company's stock valued at $358,000 after acquiring an additional 66,660 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Ginkgo Bioworks by 115.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company's stock valued at $105,000 after acquiring an additional 13,957 shares in the last quarter. 78.63% of the stock is owned by institutional investors.
Ginkgo Bioworks Company Profile
(
Get Free Report)
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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