Insider Selling: Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Sells 51,169 Shares of Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks 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 owns 865,079 shares in the company, valued at approximately $908,332.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Ginkgo Bioworks Stock Down 1.8 %

DNA stock traded down $0.02 during mid-day trading on Thursday, hitting $1.07. The company had a trading volume of 15,098,928 shares, compared to its average volume of 22,454,721. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -2.28 and a beta of 1.35. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $1.03 and a 12-month high of $2.55. The company has a 50-day moving average price of $1.25 and a 200 day moving average price of $1.43.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its earnings results 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 business had revenue of $34.76 million for the quarter, compared to analysts' expectations of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The firm's quarterly revenue was down 64.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. As a group, analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

DNA has been the topic of a number of analyst reports. The Goldman Sachs Group lowered 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. TD Cowen decreased 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.20.

Institutional Trading of Ginkgo Bioworks

Several hedge funds have recently made changes to their positions in DNA. Cambridge Investment Research Advisors Inc. bought a new position in Ginkgo Bioworks during the 1st quarter valued at about $43,000. Atria Wealth Solutions Inc. bought a new position in Ginkgo Bioworks during the 2nd quarter valued at about $30,000. Creative Planning bought a new position in Ginkgo Bioworks during the 4th quarter valued at about $25,000. Spire Wealth Management bought a new position in Ginkgo Bioworks during the 4th quarter valued at about $25,000. Finally, Silverlake Wealth Management LLC bought a new position in Ginkgo Bioworks during the 4th quarter valued at about $25,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.