Ginkgo Bioworks (NYSE:DNA) Stock Price Down 7.9%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was down 7.9% during mid-day trading on Wednesday . The company traded as low as $0.26 and last traded at $0.26. Approximately 6,066,229 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 40,493,992 shares. The stock had previously closed at $0.28.

Analysts Set New Price Targets

DNA has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley lowered their price objective on 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 decreased their target price on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating on the stock in a research note on Wednesday, June 26th. Finally, William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.40.

Ginkgo Bioworks Price Performance

The business has a 50-day moving average of $0.36 and a 200 day moving average of $0.81. The company has a market capitalization of $535.13 million, a PE ratio of -0.63 and a beta of 1.14.

Insiders Place Their Bets

In related news, Director Marijn E. Dekkers sold 265,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 309,446 shares of company stock valued at $236,875 in the last quarter. 15.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of Ginkgo Bioworks by 72.1% in the 4th quarter. SG Americas Securities LLC now owns 43,844 shares of the company’s stock worth $74,000 after purchasing an additional 18,364 shares during the period. Cerity Partners LLC raised its stake in shares of Ginkgo Bioworks by 5.3% in the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock valued at $354,000 after acquiring an additional 10,472 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Ginkgo Bioworks by 32.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 62,943 shares of the company’s stock worth $106,000 after acquiring an additional 15,396 shares during the last quarter. Powell Investment Advisors LLC boosted its stake in shares of Ginkgo Bioworks by 100.0% during the 4th quarter. Powell Investment Advisors LLC now owns 45,000 shares of the company’s stock worth $76,000 after purchasing an additional 22,500 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in Ginkgo Bioworks by 56.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,737,853 shares of the company’s stock valued at $2,937,000 after purchasing an additional 627,458 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

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.