Ginkgo Bioworks (NYSE:DNA) Upgraded at Wall Street Zen

Ginkgo Bioworks (NYSE:DNA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

DNA has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Monday, April 20th. BTIG Research decreased their target price on shares of 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 equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $8.50.

Ginkgo Bioworks Price Performance

NYSE:DNA opened at $10.20 on Friday. The firm has a market capitalization of $665.98 million, a price-to-earnings ratio of -1.90 and a beta of 1.79. Ginkgo Bioworks has a one year low of $5.37 and a one year high of $17.58. The business has a fifty day moving average price of $8.54 and a 200-day moving average price of $8.36.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, May 7th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.18). Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%. The company had revenue of $19.00 million for the quarter, compared to analysts’ expectations of $42.93 million.

Insider Activity

In related news, major shareholder Barry Canton sold 124,727 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $6.43, for a total value of $801,994.61. Following the completion of the transaction, the insider owned 436,422 shares of the company’s stock, valued at approximately $2,806,193.46. This represents a 22.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $6.40, for a total value of $702,508.80. Following the completion of the sale, the insider owned 316,483 shares of the company’s stock, valued at $2,025,491.20. The trade was a 25.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 542,580 shares of company stock worth $3,546,784. 12.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Ginkgo Bioworks

Several institutional investors have recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in Ginkgo Bioworks during the 1st quarter valued at approximately $67,000. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the 1st quarter valued at approximately $616,000. Dimensional Fund Advisors LP grew its holdings in Ginkgo Bioworks by 23.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company’s stock valued at $779,000 after buying an additional 24,434 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ginkgo Bioworks by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock valued at $760,000 after buying an additional 2,178 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Ginkgo Bioworks by 46.4% during the first quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock valued at $514,000 after buying an additional 26,612 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, 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.