Ginkgo Bioworks (NYSE:DNA) Stock Price Up 9.8%

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) traded up 9.8% during trading on Friday . The company traded as high as $0.34 and last traded at $0.34. 34,801,129 shares traded hands during trading, a decline of 7% from the average session volume of 37,466,285 shares. The stock had previously closed at $0.31.

Analysts Set New Price Targets

DNA has been the subject of several recent research reports. William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Morgan Stanley dropped their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. BTIG Research reduced their price objective on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research note on Wednesday. Finally, TD Cowen lowered their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks has a consensus rating of “Hold” and an average target price of $1.56.

Ginkgo Bioworks Price Performance

The company’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $1.09. The company has a market capitalization of $719.99 million, a price-to-earnings ratio of -0.77 and a beta of 1.24.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The firm had revenue of $37.94 million during the quarter, compared to the consensus estimate of $45.50 million. During the same period last year, the business posted ($0.08) EPS. On average, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total value of $219,950.00. Following the completion of the sale, the director now owns 5,515,364 shares in the company, valued at approximately $4,577,752.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Marijn E. Dekkers sold 265,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $0.83, for a total value of $219,950.00. Following the completion of the sale, the director now directly owns 5,515,364 shares in the company, valued at approximately $4,577,752.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark E. Dmytruk sold 47,806 shares of the company’s stock in a transaction that occurred 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 directly owns 925,400 shares in the company, valued at $777,336. The disclosure for this sale can be found here. In the last three months, insiders have sold 377,415 shares of company stock worth $321,226. Corporate insiders own 15.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DNA. Cetera Advisors LLC lifted its position in Ginkgo Bioworks by 12.1% in the 1st quarter. Cetera Advisors LLC now owns 348,543 shares of the company’s stock valued at $404,000 after acquiring an additional 37,704 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Ginkgo Bioworks by 2,683.7% in the first quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock worth $2,626,000 after purchasing an additional 2,182,773 shares during the last quarter. Caxton Associates LP bought a new position in shares of Ginkgo Bioworks during the first quarter valued at about $438,000. Paloma Partners Management Co bought a new stake in Ginkgo Bioworks in the 1st quarter worth about $28,000. Finally, Axxcess Wealth Management LLC lifted its position in shares of Ginkgo Bioworks by 35.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 198,618 shares of the company’s stock worth $230,000 after buying an additional 51,814 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.