Ginkgo Bioworks (NYSE:DNA) Shares Gap Down to $0.92

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) gapped down before the market opened on Friday . The stock had previously closed at $0.92, but opened at $0.80. Ginkgo Bioworks shares last traded at $0.80, with a volume of 29,508,758 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DNA shares. TD Cowen cut their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday. Finally, The Goldman Sachs Group cut their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Ginkgo Bioworks has an average rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -1.73 and a beta of 1.42. The business has a fifty day moving average of $1.03 and a two-hundred day moving average of $1.29.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $37.94 million for the quarter, compared to analysts’ expectations of $45.50 million. Ginkgo Bioworks had a negative return on equity of 52.85% and a negative net margin of 409.11%. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, equities research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 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 the stock in a transaction on 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 owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the stock in a transaction on 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 owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction on 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 in the company, valued at approximately $777,336. The disclosure for this sale can be found here. 15.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Spire Wealth Management purchased a new position in shares of Ginkgo Bioworks during the 4th quarter worth $25,000. First Trust Direct Indexing L.P. purchased a new position in shares of Ginkgo Bioworks during the 1st quarter worth $35,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Ginkgo Bioworks during the 4th quarter worth $37,000. Russell Investments Group Ltd. raised its position in shares of Ginkgo Bioworks by 9,440.6% in the 1st 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 period. Finally, Smith Salley & Associates boosted its holdings in Ginkgo Bioworks by 100.0% in the fourth quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock valued at $41,000 after acquiring an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.