Rhumbline Advisers Sells 1,331,930 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Rhumbline Advisers lowered its stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 90.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,659 shares of the company’s stock after selling 1,331,930 shares during the quarter. Rhumbline Advisers’ holdings in Ginkgo Bioworks were worth $47,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DNA. Paloma Partners Management Co bought a new position in shares of Ginkgo Bioworks during the 1st quarter valued at approximately $28,000. First Trust Direct Indexing L.P. purchased a new stake in Ginkgo Bioworks in the first quarter worth $35,000. Russell Investments Group Ltd. increased its position in 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 buying an additional 31,626 shares during the last quarter. Smith Salley Wealth Management raised its stake in shares of Ginkgo Bioworks by 125.0% in the first quarter. Smith Salley Wealth Management now owns 54,000 shares of the company’s stock valued at $63,000 after buying an additional 30,000 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in Ginkgo Bioworks by 653.7% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock worth $74,000 after acquiring an additional 191,336 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BTIG Research upped their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group dropped their price target on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Finally, TD Cowen raised their price objective on shares of Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Three equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.42.

Ginkgo Bioworks Trading Up 0.9 %

Shares of DNA opened at $8.17 on Tuesday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $75.20. The stock has a market cap of $18.06 billion, a PE ratio of -18.56 and a beta of 1.06.

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

Ginkgo Bioworks 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.