Ginkgo Bioworks (NYSE:DNA) Stock Price Up 7.9%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price rose 7.9% on Friday . The stock traded as high as $0.87 and last traded at $0.84. Approximately 37,859,880 shares were traded during mid-day trading, an increase of 50% from the average daily volume of 25,304,947 shares. The stock had previously closed at $0.78.

Wall Street Analysts Forecast Growth

DNA has been the subject of several research reports. The Goldman Sachs Group reduced their target price on 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 reduced their price objective on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Trading Up 10.6 %

The company has a 50 day simple moving average of $1.13 and a 200 day simple moving average of $1.34. The stock has a market capitalization of $1.85 billion, a PE ratio of -1.83 and a beta of 1.35.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The firm’s revenue was down 64.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. On average, equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors and hedge funds have recently modified their holdings of DNA. Exchange Traded Concepts LLC grew its holdings in shares of Ginkgo Bioworks by 443.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 397,887 shares of the company’s stock worth $720,000 after acquiring an additional 324,617 shares during the period. Clarius Group LLC acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $32,000. Quattro Financial Advisors LLC grew its holdings in shares of Ginkgo Bioworks by 75.0% in the 3rd quarter. Quattro Financial Advisors LLC now owns 175,000 shares of the company’s stock worth $317,000 after acquiring an additional 75,000 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Ginkgo Bioworks by 52.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 369,061 shares of the company’s stock worth $668,000 after acquiring an additional 126,924 shares during the period. Finally, Balboa Wealth Partners acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $85,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.