Ginkgo Bioworks (NYSE:DNA) Trading Up 7.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares traded up 7.7% on Thursday . The stock traded as high as $1.19 and last traded at $1.19. 9,571,491 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 22,361,441 shares. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating for the company in a research report on Monday, January 22nd. TD Cowen lowered their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.20.

Ginkgo Bioworks Price Performance

The stock's 50-day moving average price is $1.27 and its 200 day moving average price is $1.46. The firm has a market cap of $2.50 billion, a P/E ratio of -2.47 and a beta of 1.42.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $34.76 million during 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%. The business's revenue for the quarter was down 64.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. As a group, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the transaction, the insider now directly owns 761,737 shares in the company, valued at $921,701.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jason R. Kelly sold 100,000 shares of the company's stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $1.54, for a total transaction of $154,000.00. Following the completion of the sale, the insider now owns 3,994,680 shares of the company's stock, valued at $6,151,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 39,569 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $1.21, for a total transaction of $47,878.49. Following the sale, the insider now directly owns 761,737 shares of the company's stock, valued at approximately $921,701.77. The disclosure for this sale can be found here. 15.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DNA. Exchange Traded Concepts LLC increased its position in Ginkgo Bioworks by 27.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company's stock valued at $858,000 after purchasing an additional 109,927 shares during the period. Nordea Investment Management AB grew its position in shares of Ginkgo Bioworks by 5.2% during the 4th 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. B. Riley Wealth Advisors Inc. grew its position in shares of Ginkgo Bioworks by 79.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company's stock worth $210,000 after buying an additional 51,170 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Ginkgo Bioworks by 15.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company's stock worth $106,331,000 after buying an additional 7,958,613 shares during the period. Finally, Welch & Forbes LLC acquired a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $12,670,000. 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.