Ginkgo Bioworks (NYSE:DNA) Stock Price Up 9.8%

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) traded up 9.8% on Friday . The stock traded as high as $0.34 and last traded at $0.34. 34,801,129 shares were traded during mid-day trading, a decline of 7% from the average session volume of 37,466,285 shares. The stock had previously closed at $0.31.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BTIG Research decreased their price target on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Finally, William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1.56.

Ginkgo Bioworks Price Performance

The company has a market cap of $739.23 million, a PE ratio of -0.76 and a beta of 1.24. The business has a 50-day moving average of $0.65 and a 200 day moving average of $1.08.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $37.94 million during the quarter, compared to analysts’ expectations of $45.50 million. Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Harry Sloan purchased 297,619 shares of Ginkgo Bioworks stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the transaction, the director now directly owns 718,540 shares in the company, valued at approximately $653,871.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Harry Sloan purchased 297,619 shares of Ginkgo Bioworks stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $0.91 per share, with a total value of $270,833.29. Following the transaction, the director now owns 718,540 shares of the company’s stock, valued at $653,871.40. The disclosure for this purchase can be found here. Insiders sold a total of 377,415 shares of company stock worth $321,226 over the last quarter. 15.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC boosted its stake in shares of Ginkgo Bioworks by 12.1% in the first quarter. Cetera Advisors LLC now owns 348,543 shares of the company’s stock worth $404,000 after acquiring an additional 37,704 shares during the period. Cetera Investment Advisers boosted its stake in shares of Ginkgo Bioworks by 2,683.7% in the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock worth $2,626,000 after acquiring an additional 2,182,773 shares during the period. Caxton Associates LP bought a new position in shares of Ginkgo Bioworks in the first quarter worth about $438,000. Paloma Partners Management Co bought a new position in shares of Ginkgo Bioworks in the first quarter worth about $28,000. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Ginkgo Bioworks by 35.3% in the first quarter. Axxcess Wealth Management LLC now owns 198,618 shares of the company’s stock worth $230,000 after acquiring an additional 51,814 shares during the period. 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.