Ginkgo Bioworks (DNA) Set to Announce Earnings on Thursday

Ginkgo Bioworks (NYSE:DNA) is scheduled to be releasing its earnings data after the market closes on Thursday, May 9th. Analysts expect Ginkgo Bioworks to post earnings of ($0.08) per share for the quarter. Ginkgo Bioworks has set its FY 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $34.76 million for the quarter, compared to analyst estimates of $40.37 million. During the same period last year, the company posted ($0.04) EPS. The firm’s revenue for the quarter was down 64.6% compared to the same quarter last year. On average, analysts expect Ginkgo Bioworks to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ginkgo Bioworks Stock Up 1.7 %

NYSE DNA traded up $0.02 during trading hours on Tuesday, hitting $1.01. The company had a trading volume of 16,204,158 shares, compared to its average volume of 27,991,660. The firm’s 50 day moving average is $1.08 and its 200 day moving average is $1.31. Ginkgo Bioworks has a fifty-two week low of $0.74 and a fifty-two week high of $2.55.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a report on Monday, January 22nd. TD Cowen dropped their target price on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research report 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks currently has an average rating of “Hold” and a consensus price target of $2.20.

Insiders Place Their Bets

In other news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark E. Dmytruk sold 47,806 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 925,400 shares in the company, valued at $777,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks 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 completion of the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. 15.05% of the stock is owned by corporate insiders.

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.