Ginkgo Bioworks (NYSE:DNA) Shares Gap Up – What’s Next?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.21, but opened at $9.90. Ginkgo Bioworks shares last traded at $9.6330, with a volume of 276,374 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on DNA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, October 8th. Wall Street Zen cut Ginkgo Bioworks from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. BTIG Research lifted their price objective on Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, August 25th. Finally, Cowen reissued a “buy” rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $9.00.

Ginkgo Bioworks Stock Up 2.9%

The firm has a market cap of $574.09 million, a PE ratio of -1.52 and a beta of 1.54. The stock’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $11.01.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.21). Ginkgo Bioworks had a negative net margin of 188.00% and a negative return on equity of 51.15%. The company had revenue of $38.84 million for the quarter, compared to analysts’ expectations of $38.95 million. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven P. Coen sold 5,609 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total value of $84,135.00. Following the transaction, the insider directly owned 5,503 shares of the company’s stock, valued at approximately $82,545. This represents a 50.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew its stake in shares of Ginkgo Bioworks by 43.5% in the first quarter. US Bancorp DE now owns 6,302 shares of the company’s stock worth $36,000 after acquiring an additional 1,911 shares during the period. Headlands Technologies LLC lifted its position in Ginkgo Bioworks by 78.2% during the first quarter. Headlands Technologies LLC now owns 31,410 shares of the company’s stock valued at $179,000 after purchasing an additional 13,785 shares during the period. Swiss National Bank boosted its holdings in Ginkgo Bioworks by 11.8% in the first quarter. Swiss National Bank now owns 61,363 shares of the company’s stock worth $350,000 after purchasing an additional 6,500 shares during the last quarter. Invesco Ltd. grew its position in Ginkgo Bioworks by 252.8% in the 1st quarter. Invesco Ltd. now owns 93,684 shares of the company’s stock worth $534,000 after purchasing an additional 67,130 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Ginkgo Bioworks during the 1st quarter valued at $76,000. Institutional investors own 78.63% of the company’s stock.

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.