Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Sells $40,157.04 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the sale, the insider now owns 925,400 shares in the company, valued at approximately $777,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ginkgo Bioworks Price Performance

Shares of DNA stock traded up $0.03 on Monday, reaching $0.99. 30,732,457 shares of the company were exchanged, compared to its average volume of 28,135,193. The company has a 50-day moving average of $1.08 and a 200-day moving average of $1.31. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -2.17 and a beta of 1.42. Ginkgo Bioworks Holdings, Inc. has a one year low of $0.74 and a one year high of $2.55.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share (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 business had revenue of $34.76 million for the quarter, compared to analyst estimates of $40.37 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was down 64.6% compared to the same quarter last year. As a group, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on DNA. TD Cowen cut their price objective on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group cut their price target on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.20.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds have recently bought and sold shares of the company. Spire Wealth Management bought a new stake in Ginkgo Bioworks during the fourth quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks during the fourth quarter valued at $37,000. Stratos Wealth Partners LTD. purchased a new stake in Ginkgo Bioworks in the third quarter worth $43,000. Smith Salley & Associates raised its stake in shares of Ginkgo Bioworks by 100.0% in the fourth quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock valued at $41,000 after buying an additional 12,000 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at $53,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.