Ginkgo Bioworks (NYSE:DNA) Shares Down 5.4%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares fell 5.4% during mid-day trading on Monday . The company traded as low as $0.95 and last traded at $0.96. 2,831,795 shares were traded during mid-day trading, a decline of 87% from the average session volume of 22,142,797 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DNA. 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. TD Cowen lowered their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Trading Down 3.4 %

The firm has a market capitalization of $1.97 billion, a PE ratio of -1.95 and a beta of 1.35. The business has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $1.39.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The firm had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s revenue was down 64.6% compared to the same quarter last year. On average, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark E. Dmytruk sold 39,569 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the transaction, the insider now owns 761,737 shares of the company’s stock, valued at $921,701.77. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its stake in shares of Ginkgo Bioworks by 11.4% in the 3rd quarter. IHT Wealth Management LLC now owns 51,745 shares of the company’s stock valued at $161,000 after buying an additional 5,275 shares during the period. Voya Investment Management LLC boosted its stake in shares of Ginkgo Bioworks by 4.5% in the 4th quarter. Voya Investment Management LLC now owns 159,982 shares of the company’s stock valued at $270,000 after buying an additional 6,959 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Ginkgo Bioworks by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 130,334 shares of the company’s stock valued at $236,000 after buying an additional 7,499 shares during the period. Two Sigma Securities LLC boosted its stake in shares of Ginkgo Bioworks by 8.1% in the 1st quarter. Two Sigma Securities LLC now owns 102,138 shares of the company’s stock valued at $136,000 after buying an additional 7,651 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Ginkgo Bioworks by 16.6% in the 1st quarter. HighTower Advisors LLC now owns 55,130 shares of the company’s stock valued at $72,000 after buying an additional 7,856 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

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.