Ginkgo Bioworks (NYSE:DNA) Shares Up 3.3%

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) were up 3.3% on Wednesday . The company traded as high as $0.36 and last traded at $0.36. Approximately 10,307,682 shares changed hands during trading, a decline of 74% from the average daily volume of 39,229,520 shares. The stock had previously closed at $0.35.

Analyst Ratings Changes

Several equities research analysts have issued reports on DNA shares. Morgan Stanley cut their price target on Ginkgo Bioworks from $2.00 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 15th. William Blair cut shares of Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a report on Friday, May 10th. Finally, BTIG Research reduced their price objective on Ginkgo Bioworks from $0.50 to $0.20 and set a "sell" rating for the company in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $1.56.

Ginkgo Bioworks Stock Up 8.4 %

The company's fifty day moving average price is $0.62 and its 200 day moving average price is $1.06. The company has a market capitalization of $830.33 million, a P/E ratio of -0.85 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). The firm had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. During the same quarter last year, the company earned ($0.08) EPS. Research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark E. Dmytruk sold 47,806 shares of the business'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 value of $40,157.04. Following the completion of the transaction, the insider now directly owns 925,400 shares in the company, valued at approximately $777,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the transaction, the insider now owns 925,400 shares in the company, valued at approximately $777,336. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marijn E. Dekkers sold 265,000 shares of the company's stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the sale, the director now owns 5,515,364 shares of the company's stock, valued at $4,577,752.12. The disclosure for this sale can be found here. Insiders have sold 326,246 shares of company stock worth $267,499 over the last ninety days. Corporate insiders own 15.05% of the company's stock.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new position in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $25,000. Paloma Partners Management Co acquired a new position in shares of Ginkgo Bioworks during the first quarter worth $28,000. First Trust Direct Indexing L.P. bought a new stake in shares of Ginkgo Bioworks in the first quarter worth $35,000. Prime Capital Investment Advisors LLC bought a new position in Ginkgo Bioworks during the 4th quarter worth $37,000. Finally, Russell Investments Group Ltd. lifted its holdings in Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company's stock worth $37,000 after buying an additional 31,626 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.