Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) was the target of some unusual options trading on Monday. Stock investors purchased 10,531 call options on the stock. This is an increase of approximately 898% compared to the average daily volume of 1,055 call options.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Zacks Research raised Ginkgo Bioworks to a "hold" rating in a report on Monday, August 17th. BTIG Research reaffirmed a "sell" rating and set a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday, September 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Oppenheimer set a $5.00 price target on shares of Ginkgo Bioworks in a research report on Wednesday, September 9th. Finally, Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $6.33.
Get Our Latest Research Report on Ginkgo Bioworks
Insider Activity
In other news, Director Christian Henry sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the sale, the director owned 19,310 shares in the company, valued at $136,714.80. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.69% 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 the business. Bank of New York Mellon Corp raised its stake in Ginkgo Bioworks by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company's stock worth $760,000 after purchasing an additional 2,178 shares during the period. Strategic Advocates LLC lifted its holdings in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock valued at $36,000 after acquiring an additional 3,899 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Ginkgo Bioworks in the second quarter worth approximately $50,000. Arizona State Retirement System purchased a new position in Ginkgo Bioworks in the second quarter worth approximately $102,000. Finally, Entropy Technologies LP purchased a new stake in Ginkgo Bioworks in the first quarter valued at $67,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Ginkgo Bioworks Price Performance
Ginkgo Bioworks stock traded up $2.27 during midday trading on Monday, reaching $14.62. The company had a trading volume of 3,878,353 shares, compared to its average volume of 1,281,805. Ginkgo Bioworks has a 12-month low of $5.37 and a 12-month high of $17.58. The company has a market capitalization of $984.51 million, a P/E ratio of -2.92 and a beta of 1.79. The firm's fifty day simple moving average is $8.07 and its 200-day simple moving average is $8.17.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.15. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%. On average, analysts expect that Ginkgo Bioworks will post -3.2 EPS for the current fiscal year.
About Ginkgo Bioworks
(
Get Free Report)
Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.
The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.
Further Reading
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