Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Reshma P. Shetty Sells 37,650 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) insider Reshma P. Shetty sold 37,650 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $1.56, for a total value of $58,734.00. Following the completion of the sale, the insider now directly owns 13,504,054 shares of the company’s stock, valued at approximately $21,066,324.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ginkgo Bioworks Stock Down 0.7 %

Shares of DNA traded down $0.01 during mid-day trading on Friday, reaching $1.52. The company’s stock had a trading volume of 24,688,662 shares, compared to its average volume of 19,974,836. The business has a fifty day moving average of $1.29 and a 200 day moving average of $1.62. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -1.49 and a beta of 0.88. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $1.12 and a 1 year high of $4.91.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.26. Ginkgo Bioworks had a negative return on equity of 97.13% and a negative net margin of 440.87%. The business had revenue of $98.29 million during the quarter, compared to analyst estimates of $84.41 million. On average, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DNA. BTIG Research cut their price objective on Ginkgo Bioworks from $4.00 to $3.00 in a research note on Sunday, March 5th. Raymond James dropped their price target on Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, March 3rd. Finally, William Blair lowered Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.67.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently made changes to their positions in DNA. Baillie Gifford & Co. boosted its holdings in Ginkgo Bioworks by 19.6% during the fourth quarter. Baillie Gifford & Co. now owns 244,176,643 shares of the company’s stock valued at $412,659,000 after purchasing an additional 40,099,800 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Ginkgo Bioworks by 14.1% in the 1st quarter. ARK Investment Management LLC now owns 164,756,985 shares of the company’s stock worth $219,127,000 after acquiring an additional 20,372,918 shares in the last quarter. State Street Corp boosted its holdings in shares of Ginkgo Bioworks by 210.3% in the 2nd quarter. State Street Corp now owns 12,411,855 shares of the company’s stock worth $29,540,000 after acquiring an additional 8,411,787 shares in the last quarter. Norges Bank acquired a new position in shares of Ginkgo Bioworks in the 4th quarter worth approximately $13,306,000. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Ginkgo Bioworks by 21.1% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 37,514,318 shares of the company’s stock worth $63,399,000 after acquiring an additional 6,532,370 shares in the last quarter. 61.83% of the stock is currently owned by institutional investors.

Ginkgo Bioworks Company Profile

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Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.