Ginkgo Bioworks (NYSE:DNA) Downgraded by BTIG Research

BTIG Research cut shares of Ginkgo Bioworks (NYSE:DNAFree Report) from a neutral rating to a sell rating in a research note released on Wednesday, Marketbeat reports.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group decreased their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a sell rating for the company in a research report on Monday, January 22nd. William Blair downgraded Ginkgo Bioworks from a market perform rating to an underperform rating in a report on Friday, May 10th. Finally, TD Cowen dropped their target price on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an outperform rating on the stock in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $1.90.

Get Our Latest Analysis on DNA

Ginkgo Bioworks Trading Down 3.6 %

DNA stock opened at $0.81 on Wednesday. Ginkgo Bioworks has a twelve month low of $0.72 and a twelve month high of $2.55. The business’s fifty day simple moving average is $0.99 and its two-hundred day simple moving average is $1.27.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $37.94 million for the quarter, compared to the consensus estimate of $45.50 million. Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. During the same quarter last year, the firm posted ($0.08) EPS. Analysts forecast that Ginkgo Bioworks will post -0.3 EPS for the current year.

Insider Buying and Selling

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 47,806 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the transaction, the insider now directly owns 925,400 shares in the company, valued at $777,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the sale, the insider now directly owns 925,400 shares in the company, valued at approximately $777,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry Sloan bought 297,619 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average cost of $0.91 per share, with a total value of $270,833.29. Following the transaction, the director now directly owns 718,540 shares of the company’s stock, valued at $653,871.40. The disclosure for this purchase can be found here. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its holdings in Ginkgo Bioworks by 27.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company’s stock worth $858,000 after acquiring an additional 109,927 shares during the period. Vanguard Group Inc. boosted its holdings in Ginkgo Bioworks by 3.1% during the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock worth $239,494,000 after buying an additional 4,016,221 shares in the last quarter. B. Riley Wealth Advisors Inc. grew 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 valued at $210,000 after buying an additional 51,170 shares during the period. Nordea Investment Management AB raised its position in shares of Ginkgo Bioworks by 5.2% in 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 period. Finally, Welch & Forbes LLC purchased a new stake in shares of Ginkgo Bioworks during the 3rd quarter worth about $12,670,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ginkgo Bioworks (NYSE:DNA)

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