Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Ginkgo Bioworks Holdings, Inc. $DNA

Northwestern Mutual Wealth Management Co. grew its position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 28,457.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,744 shares of the company’s stock after acquiring an additional 227,943 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.38% of Ginkgo Bioworks worth $1,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DNA. Quarry LP purchased a new stake in shares of Ginkgo Bioworks in the third quarter valued at $29,000. Raymond James Financial Inc. bought a new stake in Ginkgo Bioworks in the second quarter worth about $29,000. Strs Ohio bought a new position in shares of Ginkgo Bioworks during the third quarter valued at approximately $44,000. Daiwa Securities Group Inc. bought a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $71,000. Finally, State of Wyoming bought a new position in shares of Ginkgo Bioworks during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Price Performance

DNA stock opened at $8.79 on Thursday. The company has a market capitalization of $574.16 million, a PE ratio of -1.64 and a beta of 1.77. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.37 and a 12 month high of $17.58. The firm’s 50-day moving average is $7.63 and its 200 day moving average is $8.32.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, topping the consensus estimate of ($1.80) by $0.38. The company had revenue of $33.40 million for the quarter, compared to the consensus estimate of $37.57 million. Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DNA shares. Wall Street Zen cut Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Monday, April 20th. Finally, BTIG Research cut their target price on Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $8.50.

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Reshma P. Shetty sold 124,727 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $6.43, for a total transaction of $801,994.61. Following the transaction, the insider owned 436,422 shares of the company’s stock, valued at approximately $2,806,193.46. This trade represents a 22.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jason R. Kelly sold 109,767 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $6.40, for a total transaction of $702,508.80. Following the transaction, the insider directly owned 316,483 shares in the company, valued at $2,025,491.20. This trade represents a 25.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 543,288 shares of company stock worth $3,551,556. 12.69% of the stock is currently owned by corporate insiders.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.