Ginkgo Bioworks (NYSE:DNA) Hits New 1-Year High - Time to Buy?

Key Points

• Ginkgo Bioworks reached a new 52-week high, trading as high as $18.22 before settling near $15.52, despite a market capitalization of about $875 million and a negative price-to-earnings ratio.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating and an average price target of $6.33, with recent ratings split between Hold and Sell.
• The company beat quarterly EPS expectations, reporting a loss of $0.75 per share versus the expected $0.90 loss, but revenue of $20.16 million fell short of estimates and profitability metrics remained deeply negative.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) reached a new 52-week high on Tuesday. The company traded as high as $18.22 and last traded at $15.5170, with a volume of 2024663 shares. The stock had previously closed at $14.98.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DNA shares. Zacks Research upgraded shares of Ginkgo Bioworks to a "hold" rating in a report on Monday, August 17th. Oppenheimer set a $5.00 price target on shares of Ginkgo Bioworks in a research report on Wednesday, September 9th. BTIG Research reissued a "sell" rating and issued a $5.00 price target on shares of Ginkgo Bioworks in a research note on Friday, September 4th. TD Cowen lowered shares of Ginkgo Bioworks from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $12.00 to $9.00 in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $6.33.

Ginkgo Bioworks Stock Performance

The company's 50-day simple moving average is $8.22 and its 200 day simple moving average is $8.22. The company has a market cap of $874.81 million, a PE ratio of -2.55 and a beta of 1.79.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%.The business had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Insider Activity

In other news, Director Christian Henry sold 5,000 shares of Ginkgo Bioworks 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 completion of the transaction, the director owned 19,310 shares in the company, valued at approximately $136,714.80. This trade represents a 20.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.69% of the company's stock.

Institutional Trading of Ginkgo Bioworks

A number of large investors have recently made changes to their positions in DNA. Bank of New York Mellon Corp increased its holdings in Ginkgo Bioworks by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company's stock valued at $760,000 after buying an additional 2,178 shares in the last quarter. Strategic Advocates LLC boosted its stake in shares of Ginkgo Bioworks by 808.9% during the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after acquiring an additional 3,899 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $50,000. Arizona State Retirement System acquired a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $102,000. Finally, Entropy Technologies LP purchased a new position in Ginkgo Bioworks in the 1st quarter valued at approximately $67,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

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.

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