Ginkgo Bioworks (NYSE:DNA) Trading Down 3.9%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price fell 3.9% during trading on Monday . The stock traded as low as $1.11 and last traded at $1.12. 2,435,519 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 22,332,314 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group dropped 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 note on Monday, January 22nd. TD Cowen dropped their price objective 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 analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.20.

Ginkgo Bioworks Stock Performance

The company's 50 day moving average price is $1.27 and its 200 day moving average price is $1.45. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -2.39 and a beta of 1.36.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $40.37 million. During the same quarter last year, the company earned ($0.04) EPS. The business's revenue for the quarter was down 64.6% compared to the same quarter last year. On average, equities research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.33 EPS for the current fiscal year.

Insider Transactions at Ginkgo Bioworks

In related news, insider Jason R. Kelly sold 100,000 shares of the firm's stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $1.54, for a total value of $154,000.00. Following the transaction, the insider now directly owns 3,994,680 shares in the company, valued at approximately $6,151,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark E. Dmytruk sold 39,569 shares of the firm'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 approximately $921,701.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason R. Kelly sold 100,000 shares of the firm's stock in a transaction on 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 transaction, the insider now owns 3,994,680 shares in the company, valued at $6,151,807.20. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. Spire Wealth Management bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $25,000. Creative Planning bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $25,000. Silverlake Wealth Management LLC bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $25,000. Private Advisor Group LLC bought a new position in shares of Ginkgo Bioworks during the 1st quarter worth about $26,000. Finally, Aspen Grove Capital LLC bought a new position in shares of Ginkgo Bioworks during the 1st quarter worth about $27,000. 78.63% of the stock is owned by 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.