Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Reshma P. Shetty Sells 37,650 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Reshma P. Shetty sold 37,650 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $2.04, for a total transaction of $76,806.00. Following the transaction, the insider now owns 12,901,654 shares of the company’s stock, valued at $26,319,374.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $1.93 on Friday. The stock’s 50-day simple moving average is $2.06 and its two-hundred day simple moving average is $1.67. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $1.12 and a twelve month high of $3.52.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $80.57 million for the quarter, compared to analyst estimates of $70.41 million. Ginkgo Bioworks had a negative return on equity of 66.58% and a negative net margin of 375.48%. Research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DNA. California State Teachers Retirement System boosted its stake in shares of Ginkgo Bioworks by 26.5% in the 2nd quarter. California State Teachers Retirement System now owns 1,344,165 shares of the company’s stock valued at $2,500,000 after purchasing an additional 281,683 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Ginkgo Bioworks by 23.3% during the second quarter. Nuveen Asset Management LLC now owns 3,589,663 shares of the company’s stock valued at $6,677,000 after buying an additional 677,284 shares during the period. GTS Securities LLC bought a new position in shares of Ginkgo Bioworks during the second quarter valued at about $419,000. Alliancebernstein L.P. lifted its stake in shares of Ginkgo Bioworks by 82.1% in the 2nd quarter. Alliancebernstein L.P. now owns 411,015 shares of the company’s stock valued at $764,000 after acquiring an additional 185,260 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Ginkgo Bioworks by 37.7% during the 2nd quarter. Wells Fargo & Company MN now owns 86,766 shares of the company’s stock worth $161,000 after acquiring an additional 23,750 shares during the last quarter. 56.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DNA. The Goldman Sachs Group lowered Ginkgo Bioworks from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.00 to $1.25 in a research note on Friday, June 2nd. Raymond James decreased their price objective on shares of Ginkgo Bioworks from $5.00 to $3.50 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.75.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.