Ginkgo Bioworks (NYSE:DNA) Trading 13.7% Higher

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) traded up 13.7% during trading on Tuesday . The stock traded as high as $0.96 and last traded at $0.96. 31,994,155 shares were traded during mid-day trading, an increase of 5% from the average session volume of 30,375,408 shares. The stock had previously closed at $0.84.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. 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. William Blair downgraded shares of Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a research report on Friday. Finally, The Goldman Sachs Group cut 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2.20.

Ginkgo Bioworks Stock Performance

The company has a market cap of $1.85 billion, a PE ratio of -2.11 and a beta of 1.42. The stock's 50-day simple moving average is $1.02 and its 200 day simple moving average is $1.28.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 52.85%. The business had revenue of $37.94 million for the quarter, compared to analysts' expectations of $45.50 million. During the same period in the prior year, the company posted ($0.08) EPS. On average, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Transactions at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the sale, the insider now directly owns 925,400 shares of the company's stock, valued at approximately $777,336. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the sale, the insider now directly owns 925,400 shares of the company's stock, valued at approximately $777,336. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark E. Dmytruk sold 51,169 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were 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 in the company, valued at $908,332.95. The disclosure for this sale can be found here. Corporate insiders own 15.05% of the company's stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in shares of Ginkgo Bioworks by 27.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company's stock worth $858,000 after purchasing an additional 109,927 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ginkgo Bioworks by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company's stock worth $239,494,000 after acquiring an additional 4,016,221 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings 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 acquiring an additional 51,170 shares during the period. Nordea Investment Management AB lifted its holdings 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 acquiring an additional 216,434 shares during the period. Finally, Welch & Forbes LLC purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter worth about $12,670,000. 78.63% of the stock is owned by institutional investors and hedge funds.

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.

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