Ginkgo Bioworks (NYSE:DNA) Trading Up 8.4%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price shot up 8.4% on Thursday . The stock traded as high as $0.39 and last traded at $0.38. 43,894,228 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 69,337,448 shares. The stock had previously closed at $0.35.

Analyst Ratings Changes

Several research firms have weighed in on DNA. BTIG Research dropped their price objective on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research note on Wednesday, June 26th. William Blair downgraded shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Finally, Morgan Stanley reduced their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $1.56.

Ginkgo Bioworks Price Performance

The stock has a market cap of $830.34 million, a P/E ratio of -0.85 and a beta of 1.14. The stock’s 50 day simple moving average is $0.62 and its two-hundred day simple moving average is $1.06.

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

Insiders Place Their Bets

In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total transaction of $219,950.00. Following the completion of the sale, the director now owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the transaction, the director now directly owns 5,515,364 shares in the company, valued at approximately $4,577,752.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following 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 90 days, insiders sold 326,246 shares of company stock valued at $267,499. 15.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC lifted its position in Ginkgo Bioworks by 12.1% in the 1st quarter. Cetera Advisors LLC now owns 348,543 shares of the company’s stock worth $404,000 after buying an additional 37,704 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Ginkgo Bioworks by 2,683.7% during the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock valued at $2,626,000 after acquiring an additional 2,182,773 shares in the last quarter. Caxton Associates LP bought a new position in Ginkgo Bioworks in the first quarter worth $438,000. Paloma Partners Management Co bought a new position in Ginkgo Bioworks in the first quarter worth $28,000. Finally, Axxcess Wealth Management LLC raised its holdings in Ginkgo Bioworks by 35.3% in 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 in the last quarter. 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.