Ginkgo Bioworks (DNA) Set to Announce Quarterly Earnings on Thursday

Ginkgo Bioworks (NYSE:DNA - Get Free Report) will be posting its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Ginkgo Bioworks to post earnings of ($0.08) per share for the quarter. Ginkgo Bioworks has set its FY 2024 guidance at EPS.Parties interested in listening to the company's conference call can do so using this link.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.10) 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%. During the same period in the previous year, the firm earned ($0.04) EPS. Ginkgo Bioworks's revenue for the quarter was down 64.6% on a year-over-year basis. On average, analysts expect Ginkgo Bioworks to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ginkgo Bioworks Stock Performance

Shares of DNA stock traded up $0.08 during mid-day trading on Friday, hitting $0.95. 54,540,576 shares of the stock traded hands, compared to its average volume of 28,104,455. Ginkgo Bioworks has a twelve month low of $0.74 and a twelve month high of $2.55. The company's 50-day simple moving average is $1.08 and its 200-day simple moving average is $1.32. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -2.01 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DNA. TD Cowen lowered their target price 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 dropped their target price 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of "Hold" and a consensus price target of $2.20.

Insider Transactions at Ginkgo Bioworks

In other news, insider Mark E. Dmytruk sold 51,169 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the sale, the insider now directly owns 865,079 shares of the company's stock, valued at $908,332.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.05% of the stock is owned by insiders.

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.