Ginkgo Bioworks (NYSE:DNA) Sees Unusually-High Trading Volume

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) shares saw strong trading volume on Monday . 38,782,043 shares were traded during mid-day trading, an increase of 50% from the previous session's volume of 25,770,016 shares.The stock last traded at $1.11 and had previously closed at $0.86.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DNA shares. The Goldman Sachs Group decreased their price target on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating for the company in a report on Monday, January 22nd. TD Cowen decreased their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating for the company in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.20.

Ginkgo Bioworks Stock Up 15.1 %

The company's fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.34. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -2.11 and a beta of 1.36.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The firm had revenue of $34.76 million for 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%. Ginkgo Bioworks's revenue for the quarter was down 64.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. On average, equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm's stock in a transaction 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 transaction, the insider now owns 865,079 shares of the company's stock, valued at $908,332.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Mark E. Dmytruk sold 51,169 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares of the company's stock, valued at $908,332.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Dmytruk sold 39,569 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The stock was 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 disclosure for this sale can be found here. Insiders own 15.05% of the company's stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in Ginkgo Bioworks by 443.0% during the third quarter. Exchange Traded Concepts LLC now owns 397,887 shares of the company's stock worth $720,000 after acquiring an additional 324,617 shares in the last quarter. Clarius Group LLC acquired a new position in Ginkgo Bioworks during the 3rd quarter worth approximately $32,000. Commonwealth Equity Services LLC lifted its stake in Ginkgo Bioworks by 52.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 369,061 shares of the company's stock valued at $668,000 after purchasing an additional 126,924 shares during the last quarter. Balboa Wealth Partners bought a new stake in shares of Ginkgo Bioworks during the third quarter worth $85,000. Finally, Raymond James & Associates increased its holdings in shares of Ginkgo Bioworks by 4.6% during the third quarter. Raymond James & Associates now owns 193,589 shares of the company's stock worth $350,000 after buying an additional 8,455 shares in the last quarter. 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.