Ginkgo Bioworks (NYSE:DNA) Shares Gap Up to $0.81

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $0.81, but opened at $0.83. Ginkgo Bioworks shares last traded at $0.78, with a volume of 2,677,836 shares trading hands.

Wall Street Analysts Forecast Growth

DNA has been the topic of a number of recent research reports. BTIG Research downgraded Ginkgo Bioworks from a "neutral" rating to a "sell" rating in a research note on Wednesday, May 15th. TD Cowen decreased their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating for the company in a research note on Friday, March 1st. William Blair downgraded Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a research note on Friday, May 10th. Morgan Stanley decreased their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group decreased their price target on Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating for the company in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ginkgo Bioworks has an average rating of "Hold" and an average price target of $1.90.

Ginkgo Bioworks Stock Performance

The firm has a 50 day moving average of $0.98 and a two-hundred day moving average of $1.26. The stock has a market cap of $1.65 billion, a P/E ratio of -1.74 and a beta of 1.42.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The firm had revenue of $37.94 million during the quarter, compared to the consensus estimate of $45.50 million. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the company'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 transaction, the insider now owns 865,079 shares of the company's stock, valued at approximately $908,332.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm'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 approximately $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry Sloan acquired 297,619 shares of the firm's stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the transaction, the director now directly owns 718,540 shares in the company, valued at approximately $653,871.40. The disclosure for this purchase can be found here. Insiders sold a total of 363,975 shares of company stock worth $313,834 in the last 90 days. 15.05% of the stock is owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in the business. Caxton Associates LP acquired a new stake in shares of Ginkgo Bioworks in the 1st quarter valued at about $438,000. Paloma Partners Management Co acquired a new stake in shares of Ginkgo Bioworks in the first quarter valued at about $28,000. Axxcess Wealth Management LLC increased its position in shares of Ginkgo Bioworks by 35.3% in the first quarter. Axxcess Wealth Management LLC now owns 198,618 shares of the company's stock valued at $230,000 after acquiring an additional 51,814 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Ginkgo Bioworks by 260.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 451,383 shares of the company's stock valued at $525,000 after acquiring an additional 326,070 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its holdings in Ginkgo Bioworks by 30.9% during the first quarter. Interchange Capital Partners LLC now owns 166,040 shares of the company's stock worth $203,000 after purchasing an additional 39,193 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

About Ginkgo Bioworks

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.