Ginkgo Bioworks (NYSE:DNA) Shares Gap Down to $0.92

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $0.92, but opened at $0.80. Ginkgo Bioworks shares last traded at $0.80, with a volume of 29,508,758 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DNA shares. William Blair cut Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a research note on Friday. 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 research note on Monday, January 22nd. Finally, TD Cowen lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The firm has a market capitalization of $1.64 billion, a P/E ratio of -1.66 and a beta of 1.42. The stock has a 50 day moving average of $1.04 and a 200-day moving average of $1.30.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the transaction, the insider now owns 925,400 shares of the company's stock, valued at approximately $777,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 47,806 shares of the firm's stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the transaction, the insider now directly owns 925,400 shares of the company's stock, valued at approximately $777,336. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The disclosure for this sale can be found here. Company insiders own 15.05% of the company's stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its holdings in shares of Ginkgo Bioworks by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company's stock worth $858,000 after acquiring an additional 109,927 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 buying an additional 4,016,221 shares during the period. B. Riley Wealth Advisors Inc. grew 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 buying an additional 51,170 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of 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 buying an additional 216,434 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 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 acquiring an additional 7,958,613 shares during the last quarter. Institutional investors 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.

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