Stock Traders Purchase Large Volume of Ginkgo Bioworks Call Options (NYSE:DNA)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw unusually large options trading activity on Monday. Stock investors purchased 19,822 call options on the company. This represents an increase of 387% compared to the typical daily volume of 4,068 call options.

Insiders Place Their Bets

In related news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark E. Dmytruk sold 51,169 shares of the company’s 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 completion of the transaction, the insider now directly owns 865,079 shares of the company’s stock, valued at $908,332.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Dmytruk sold 39,569 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the completion of the transaction, the insider now directly owns 761,737 shares of the company’s stock, valued at $921,701.77. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently modified their holdings of DNA. Exchange Traded Concepts LLC lifted its stake in shares of Ginkgo Bioworks by 443.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 397,887 shares of the company’s stock valued at $720,000 after purchasing an additional 324,617 shares in the last quarter. Clarius Group LLC purchased a new stake in shares of Ginkgo Bioworks during the 3rd quarter valued at about $32,000. Commonwealth Equity Services LLC raised its holdings in shares of Ginkgo Bioworks by 52.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 369,061 shares of the company’s stock valued at $668,000 after buying an additional 126,924 shares during the period. Balboa Wealth Partners purchased a new stake in shares of Ginkgo Bioworks during the 3rd quarter valued at about $85,000. Finally, Raymond James & Associates raised its holdings in shares of Ginkgo Bioworks by 4.6% during the 3rd quarter. Raymond James & Associates now owns 193,589 shares of the company’s stock valued at $350,000 after buying an additional 8,455 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Ginkgo Bioworks Trading Up 12.9 %

Shares of DNA stock traded up $0.11 during mid-day trading on Monday, reaching $0.97. The stock had a trading volume of 56,801,735 shares, compared to its average volume of 26,079,813. Ginkgo Bioworks has a 12-month low of $0.74 and a 12-month high of $2.55. The company has a market cap of $2.09 billion, a P/E ratio of -2.04 and a beta of 1.36. The business has a 50-day simple moving average of $1.13 and a 200 day simple moving average of $1.34.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data 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 company had revenue of $34.76 million for the quarter, compared to analyst estimates of $40.37 million. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue was down 64.6% on a year-over-year basis. Research analysts anticipate that Ginkgo Bioworks will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a report on Monday, January 22nd. TD Cowen decreased 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 analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.20.

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.