Ginkgo Bioworks (NYSE:DNA) Insider Sells $36,045.00 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Steven Coen sold 2,403 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $15.00, for a total transaction of $36,045.00. Following the completion of the sale, the insider owned 49,448 shares in the company, valued at $741,720. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ginkgo Bioworks Stock Down 7.3%

Shares of NYSE DNA traded down $0.91 during mid-day trading on Wednesday, hitting $11.51. 6,453,915 shares of the company traded hands, compared to its average volume of 1,391,378. The stock has a market capitalization of $774.75 million, a price-to-earnings ratio of -2.30 and a beta of 1.79. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.37 and a 1 year high of $18.22. The business has a 50 day moving average of $8.32 and a two-hundred day moving average of $8.27.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $24.05 million. As a group, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Wall Street Analyst Weigh In

DNA has been the subject of several analyst reports. Oppenheimer set a $5.00 target price on Ginkgo Bioworks in a report on Wednesday, September 9th. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. TD Cowen downgraded shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.00 to $9.00 in a report on Friday, August 7th. BTIG Research reaffirmed a “sell” rating and set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Friday, September 4th. Finally, Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $6.33.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in DNA. Strategic Advocates LLC grew its stake in Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after acquiring an additional 3,899 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Ginkgo Bioworks during the second quarter valued at $50,000. Arizona State Retirement System purchased a new position in Ginkgo Bioworks during the second quarter worth about $102,000. Entropy Technologies LP purchased a new position in Ginkgo Bioworks during the first quarter worth about $67,000. Finally, Boston Standard Wealth Management LLC bought a new position in Ginkgo Bioworks in the 1st quarter worth about $97,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.