Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Update

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 289,730,000 shares, an increase of 8.7% from the April 15th total of 266,530,000 shares. Based on an average daily trading volume, of 30,860,000 shares, the days-to-cover ratio is presently 9.4 days. Currently, 20.8% of the company's stock are sold short.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Harry Sloan bought 297,619 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $0.91 per share, with a total value of $270,833.29. Following the completion of the transaction, the director now directly owns 718,540 shares of the company's stock, valued at $653,871.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the sale, the insider now directly owns 925,400 shares of the company's stock, valued at $777,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry Sloan bought 297,619 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $270,833.29. Following the purchase, the director now owns 718,540 shares of the company's stock, valued at $653,871.40. The disclosure for this purchase can be found here. Insiders own 15.05% of the company's stock.

Hedge Funds Weigh In On Ginkgo Bioworks

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

Ginkgo Bioworks Price Performance

Shares of DNA traded down $0.00 during mid-day trading on Thursday, reaching $0.84. The stock had a trading volume of 32,179,557 shares, compared to its average volume of 31,240,746. The business's fifty day moving average is $1.01 and its 200 day moving average is $1.28. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -1.89 and a beta of 1.42. Ginkgo Bioworks has a 52-week low of $0.72 and a 52-week high of $2.55.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting 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 analysts' expectations of $45.50 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that Ginkgo Bioworks will post -0.31 EPS for the current fiscal year.

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.