Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $2.19, but opened at $2.06. Ginkgo Bioworks shares last traded at $2.12, with a volume of 2,148,348 shares traded. Specifically, major shareholder Barry Canton sold 193,616 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $2.46, for a total value of $476,295.36. Following the completion of the transaction, the insider now directly owns 22,175,747 shares of the company’s stock, valued at approximately $54,552,337.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Barry Canton sold 193,616 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $2.46, for a total value of $476,295.36. Following the completion of the sale, the insider now directly owns 22,175,747 shares of the company’s stock, valued at approximately $54,552,337.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark E. Dmytruk sold 34,588 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $1.56, for a total value of $53,957.28. Following the completion of the sale, the insider now directly owns 454,549 shares of the company’s stock, valued at $709,096.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,569,821 shares of company stock valued at $14,765,752. Corporate insiders own 17.47% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on DNA shares. BTIG Research cut their price target on Ginkgo Bioworks to $4.00 in a research note on Thursday, November 17th. Raymond James cut their target price on Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. Finally, Berenberg Bank started coverage on Ginkgo Bioworks in a research note on Monday, November 28th. They issued a “buy” rating and a $6.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.92.
Ginkgo Bioworks Trading Down 2.7 %
The firm has a market cap of $4.13 billion, a P/E ratio of -0.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.71 and a quick ratio of 11.67. The stock has a 50 day moving average of $1.77 and a 200 day moving average of $2.46.
Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its earnings results on Monday, November 14th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The firm had revenue of $66.40 million during the quarter, compared to the consensus estimate of $54.28 million. Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. As a group, equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -1.41 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in DNA. SG Americas Securities LLC boosted its position in Ginkgo Bioworks by 263.9% during the fourth quarter. SG Americas Securities LLC now owns 41,089 shares of the company’s stock valued at $69,000 after buying an additional 29,798 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ginkgo Bioworks by 94.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 134,934 shares of the company’s stock valued at $228,000 after buying an additional 65,591 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in Ginkgo Bioworks during the fourth quarter valued at about $102,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter worth about $25,000. Finally, New World Advisors LLC purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter worth about $58,000. Institutional investors own 61.83% of the company’s stock.
Ginkgo Bioworks Company Profile
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.