Ginkgo Bioworks (NYSE:DNA) Stock Price Down 4.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was down 4.7% during trading on Monday . The stock traded as low as $0.81 and last traded at $0.82. Approximately 13,916,503 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 23,347,289 shares. The stock had previously closed at $0.86.

Wall Street Analyst Weigh In

DNA has been the subject of a number of recent research reports. 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 cut their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Trading Down 2.7 %

The business has a fifty day moving average of $1.19 and a 200 day moving average of $1.37. The company has a market capitalization of $1.81 billion, a PE ratio of -1.76 and a beta of 1.35.

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. Equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks 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 transaction, the insider now 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 link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The disclosure for this sale can be found here. Company insiders own 15.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC boosted its position in Ginkgo Bioworks by 9.0% during the fourth quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock worth $335,645,000 after purchasing an additional 16,414,434 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ginkgo Bioworks by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock worth $224,398,000 after acquiring an additional 463,096 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Ginkgo Bioworks by 15.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after acquiring an additional 7,958,613 shares during the last quarter. Norges Bank acquired a new position in shares of Ginkgo Bioworks in the fourth quarter worth $24,967,000. Finally, Lingotto Investment Management LLP raised its holdings in shares of Ginkgo Bioworks by 34.9% in the fourth quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock worth $14,384,000 after acquiring an additional 2,200,000 shares during the last quarter. Institutional investors and hedge funds 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.