Steven Coen Sells 33,171 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Key Points

• Insider sale: Director Steven Coen sold 33,171 shares on April 13 at an average of $6.41 for about $212,626 to cover tax withholding from equity vesting, reducing his stake by roughly 39.96% to 49,849 shares (worth ~$319,532).
• Stock and outlook: Shares jumped 15.7% to $7.73 on higher volume; Ginkgo has a $478.7M market cap, reported a recent quarterly EPS of ($1.42) that beat estimates but missed revenue, remains unprofitable with negative margins, and carries a consensus Wall Street rating of "Reduce" with an $8.50 price target.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Steven Coen sold 33,171 shares of Ginkgo Bioworks stock in a transaction on Monday, April 13th. The stock was sold at an average price of $6.41, for a total value of $212,626.11. Following the completion of the sale, the insider directly owned 49,849 shares of the company's stock, valued at $319,532.09. The trade was a 39.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Trading Up 15.7%

NYSE DNA traded up $1.05 on Tuesday, hitting $7.73. 2,014,358 shares of the company traded hands, compared to its average volume of 1,139,099. The business's 50 day moving average price is $7.58 and its 200-day moving average price is $9.45. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.37 and a 52-week high of $17.58. The company has a market capitalization of $478.67 million, a price-to-earnings ratio of -1.37 and a beta of 1.56.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, topping the consensus estimate of ($1.80) by $0.38. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%.The firm had revenue of $33.40 million for the quarter, compared to the consensus estimate of $37.57 million. As a group, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a report on Saturday. TD Cowen decreased their price objective on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. BTIG Research lowered their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating on the stock in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of "Reduce" and a consensus price target of $8.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Ginkgo Bioworks in the 3rd quarter worth approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Ginkgo Bioworks in the second quarter worth $29,000. Strs Ohio purchased a new position in shares of Ginkgo Bioworks in the third quarter worth $44,000. Strategic Advocates LLC boosted its position in shares of Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after acquiring an additional 3,899 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Ginkgo Bioworks during the third quarter worth $74,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

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