Ginkgo Bioworks (NYSE:DNA) Stock Price Up 3.2%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares rose 3.2% on Thursday . The company traded as high as $0.30 and last traded at $0.29. Approximately 34,903,137 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 36,748,227 shares. The stock had previously closed at $0.28.

Wall Street Analyst Weigh In

DNA has been the topic of a number of research reports. BTIG Research lowered their price target on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a report on Wednesday. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Morgan Stanley lowered their target price on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Finally, TD Cowen lowered their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $1.56.

Ginkgo Bioworks Price Performance

The firm has a 50-day moving average of $0.65 and a two-hundred day moving average of $1.08.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The company had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. During the same period last year, the company posted ($0.08) earnings per share. As a group, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the transaction, the insider now directly owns 925,400 shares of the company’s stock, valued at $777,336. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $0.83, for a total transaction of $219,950.00. Following the sale, the director now directly owns 5,515,364 shares of the company’s stock, valued at $4,577,752.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the sale, the insider now directly owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. Insiders have sold 377,415 shares of company stock valued at $321,226 over the last three months. 15.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in Ginkgo Bioworks by 9.0% in the fourth quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock worth $335,645,000 after purchasing an additional 16,414,434 shares in the last quarter. Vanguard Group Inc. grew its stake in Ginkgo Bioworks by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock worth $224,398,000 after purchasing an additional 463,096 shares in the last quarter. Norges Bank acquired a new position in Ginkgo Bioworks in the fourth quarter worth about $24,967,000. Lingotto Investment Management LLP grew its stake in Ginkgo Bioworks by 34.9% in the fourth quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock worth $14,384,000 after purchasing an additional 2,200,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Ginkgo Bioworks by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,661,303 shares of the company’s stock worth $12,948,000 after purchasing an additional 242,906 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Ginkgo Bioworks

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.