Ginkgo Bioworks (NYSE:DNA) Sees Strong Trading Volume

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares saw strong trading volume on Thursday . 32,277,849 shares were traded during trading, an increase of 2% from the previous session’s volume of 31,557,998 shares.The stock last traded at $0.68 and had previously closed at $0.70.

Analyst Ratings Changes

A number of research firms have recently issued reports on DNA. Morgan Stanley lowered their price objective on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. BTIG Research cut shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a research note on Wednesday, May 15th. TD Cowen decreased their target price on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, William Blair cut shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.90.

Ginkgo Bioworks Stock Performance

The stock has a fifty day simple moving average of $0.96 and a 200-day simple moving average of $1.25.

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

Insider Transactions at Ginkgo Bioworks

In related 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 directly owns 865,079 shares of the company’s stock, valued at $908,332.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks 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 completion of the sale, the insider now owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the transaction, the insider now owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,975 shares of company stock worth $313,834. Insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds have recently modified their holdings of the stock. Caxton Associates LP bought a new position in Ginkgo Bioworks during the 1st quarter worth $438,000. Paloma Partners Management Co bought a new position in shares of Ginkgo Bioworks in the first quarter worth $28,000. Axxcess Wealth Management LLC lifted its position in Ginkgo Bioworks by 35.3% during the first quarter. Axxcess Wealth Management LLC now owns 198,618 shares of the company’s stock worth $230,000 after purchasing an additional 51,814 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Ginkgo Bioworks by 260.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 451,383 shares of the company’s stock worth $525,000 after buying an additional 326,070 shares in the last quarter. Finally, Interchange Capital Partners LLC increased its holdings in Ginkgo Bioworks by 30.9% in the 1st quarter. Interchange Capital Partners LLC now owns 166,040 shares of the company’s stock valued at $203,000 after buying an additional 39,193 shares during the period. 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.