Ginkgo Bioworks (NYSE:DNA) Shares Down 6.4%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price fell 6.4% on Friday . The company traded as low as $7.74 and last traded at $7.78. 1,253,981 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 1,157,448 shares. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

DNA has been the subject of a number of research reports. BTIG Research boosted their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group dropped their price objective on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, TD Cowen lifted their target price on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of “Hold” and a consensus target price of $3.42.

Ginkgo Bioworks Price Performance

The company has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $1.07. The company has a market cap of $17.25 billion, a P/E ratio of -17.64 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. The business had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. On average, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently added to or reduced their stakes in DNA. Treasurer of the State of North Carolina raised its holdings in Ginkgo Bioworks by 2.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 689,787 shares of the company’s stock worth $1,166,000 after acquiring an additional 15,540 shares during the period. Principal Financial Group Inc. lifted its position in shares of Ginkgo Bioworks by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 132,302 shares of the company’s stock worth $153,000 after purchasing an additional 22,201 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Ginkgo Bioworks during the 1st quarter worth about $28,000. Swiss National Bank boosted its stake in Ginkgo Bioworks by 1.4% during the 1st quarter. Swiss National Bank now owns 2,078,500 shares of the company’s stock valued at $2,411,000 after purchasing an additional 27,700 shares during the period. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in Ginkgo Bioworks in the 4th quarter valued at approximately $50,000. 78.63% of the stock is owned by institutional investors.

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.