Ginkgo Bioworks (NYSE:DNA) Shares Down 4.7%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) dropped 4.7% during mid-day trading on Monday . The stock traded as low as $0.81 and last traded at $0.82. Approximately 13,916,503 shares changed hands during trading, a decline of 40% from the average daily volume of 23,347,289 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

DNA has been the subject of several analyst reports. The Goldman Sachs Group cut their price target on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a report on Monday, January 22nd. TD Cowen cut their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.20.

Ginkgo Bioworks Trading Up 3.4 %

The firm’s 50-day simple moving average is $1.18 and its two-hundred day simple moving average is $1.36.

Ginkgo Bioworks (NYSE:DNA) last issued its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The company had revenue of $34.76 million for the quarter, compared to analyst estimates of $40.37 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was down 64.6% compared to the same quarter last year. Equities analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark E. Dmytruk sold 39,569 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total transaction of $47,878.49. Following the completion of the sale, the insider now owns 761,737 shares in the company, valued at $921,701.77. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its position in shares of Ginkgo Bioworks by 27.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company’s stock valued at $858,000 after purchasing an additional 109,927 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ginkgo Bioworks by 3.1% in the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after purchasing an additional 4,016,221 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Ginkgo Bioworks by 79.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock worth $210,000 after acquiring an additional 51,170 shares during the last quarter. Nordea Investment Management AB boosted its position in Ginkgo Bioworks by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company’s stock worth $7,435,000 after acquiring an additional 216,434 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Ginkgo Bioworks by 15.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after acquiring an additional 7,958,613 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.