Ginkgo Bioworks (NYSE:DNA) Trading 5% Higher

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) traded up 5% during mid-day trading on Thursday . The company traded as high as $0.93 and last traded at $0.92. 14,557,304 shares traded hands during trading, a decline of 37% from the average session volume of 22,968,162 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target 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 reduced 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.20.

Ginkgo Bioworks Trading Up 6.1 %

The stock's 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.38. The firm has a market capitalization of $1.99 billion, a PE ratio of -1.97 and a beta of 1.35.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The business had revenue of $34.76 million for the quarter, compared to analysts' expectations of $40.37 million. During the same period last year, the business earned ($0.04) earnings per share. The company's revenue for the quarter was down 64.6% on a year-over-year basis. Analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mark E. Dmytruk sold 39,569 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total transaction of $47,878.49. Following the completion of the sale, the insider now directly owns 761,737 shares of the company's stock, valued at approximately $921,701.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. 15.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC lifted its holdings in shares of Ginkgo Bioworks by 9.0% during the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company's stock valued at $335,645,000 after acquiring an additional 16,414,434 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ginkgo Bioworks by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company's stock worth $224,398,000 after buying an additional 463,096 shares in the last quarter. BlackRock Inc. lifted its holdings in Ginkgo Bioworks by 34.6% in the 2nd quarter. BlackRock Inc. now owns 68,202,832 shares of the company's stock worth $126,857,000 after buying an additional 17,538,752 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 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 worth $106,331,000 after buying an additional 7,958,613 shares in the last quarter. Finally, State Street Corp lifted its holdings in Ginkgo Bioworks by 40.6% in the 2nd quarter. State Street Corp now owns 20,683,752 shares of the company's stock worth $38,472,000 after buying an additional 5,976,244 shares in the last quarter. Institutional investors and hedge funds 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.