Ginkgo Bioworks (NYSE:DNA) Stock Price Up 9.8%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) rose 9.8% during trading on Friday . The company traded as high as $0.34 and last traded at $0.34. Approximately 34,801,129 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 37,466,285 shares. The stock had previously closed at $0.31.

Wall Street Analyst Weigh In

DNA has been the topic of a number of recent analyst reports. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research report on Friday, May 10th. Morgan Stanley decreased their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Finally, BTIG Research decreased their price target on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1.56.

Ginkgo Bioworks Price Performance

The stock has a 50-day simple moving average of $0.65 and a 200-day simple moving average of $1.08. The stock has a market cap of $739.23 million, a P/E ratio of -0.76 and a beta of 1.24.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The firm had revenue of $37.94 million for the quarter, compared to analysts’ expectations of $45.50 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. As a group, sell-side analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Mark E. Dmytruk sold 51,169 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marijn E. Dekkers sold 265,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the sale, the director now owns 5,515,364 shares in the company, valued at $4,577,752.12. The disclosure for this sale can be found here. Insiders have sold a total of 377,415 shares of company stock worth $321,226 over the last 90 days. Insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in DNA. Spire Wealth Management bought a new stake in shares of Ginkgo Bioworks during the fourth quarter worth about $25,000. Paloma Partners Management Co acquired a new position in shares of Ginkgo Bioworks in the first quarter worth approximately $28,000. First Trust Direct Indexing L.P. acquired a new position in shares of Ginkgo Bioworks in the first quarter worth approximately $35,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Ginkgo Bioworks in the fourth quarter worth approximately $37,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Ginkgo Bioworks by 9,440.6% in the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock worth $37,000 after acquiring an additional 31,626 shares during the period. 78.63% of the stock is currently 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.