Insider Selling: Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Sells $40,157.04 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Mark E. Dmytruk sold 47,806 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the sale, the insider now owns 925,400 shares of the company’s stock, valued at approximately $777,336. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ginkgo Bioworks Trading Down 4.4 %

NYSE DNA opened at $0.89 on Thursday. The company has a market capitalization of $1.92 billion, a PE ratio of -1.90 and a beta of 1.42. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $0.74 and a 1-year high of $2.55. The firm’s fifty day simple moving average is $1.05 and its 200-day simple moving average is $1.30.

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

Wall Street Analyst Weigh In

DNA has been the topic of several recent analyst reports. TD Cowen dropped their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. The Goldman Sachs Group dropped their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.20.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently added to or reduced their stakes in DNA. ARK Investment Management LLC lifted its holdings in Ginkgo Bioworks by 9.0% in the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock worth $335,645,000 after purchasing an additional 16,414,434 shares during the last quarter. Norges Bank acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter worth $24,967,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Ginkgo Bioworks by 15.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after buying an additional 7,958,613 shares during the period. Welch & Forbes LLC acquired a new position in Ginkgo Bioworks in the 3rd quarter valued at $12,670,000. Finally, Vanguard Group Inc. raised its holdings in Ginkgo Bioworks by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock worth $239,494,000 after acquiring an additional 4,016,221 shares during the period. 78.63% of the stock is owned by institutional investors.

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.