Ginkgo Bioworks (NYSE:DNA) Sets New 12-Month Low at $0.49

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $0.49 and last traded at $0.50, with a volume of 13091334 shares trading hands. The stock had previously closed at $0.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DNA shares. 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 report on Friday, March 1st. Morgan Stanley cut their target price on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. BTIG Research downgraded shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1.90.

Ginkgo Bioworks Trading Down 8.8 %

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.15 and a beta of 1.24. The firm’s 50-day moving average is $0.80 and its 200 day moving average is $1.16.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $37.94 million for the quarter, compared to analyst estimates 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 in the previous year, the business earned ($0.08) earnings per share. Analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current year.

Insider Activity

In other news, Director Harry Sloan purchased 297,619 shares of the stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the acquisition, the director now owns 718,540 shares in the company, valued at $653,871.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Harry Sloan purchased 297,619 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $0.91 per share, with a total value of $270,833.29. Following the completion of the transaction, the director now owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 2nd. The stock was 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 of the company’s stock, valued at $777,336. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,415 shares of company stock valued at $321,226. Company insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management bought a new position in shares of Ginkgo Bioworks during the 4th quarter worth about $25,000. Paloma Partners Management Co acquired a new position in Ginkgo Bioworks during the 1st quarter worth approximately $28,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks in the first quarter worth approximately $35,000. Prime Capital Investment Advisors LLC acquired a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $37,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Ginkgo Bioworks by 9,440.6% during the first quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after acquiring an additional 31,626 shares in the last quarter. 78.63% of the stock is currently 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.