Ginkgo Bioworks (NYSE:DNA) Posts Earnings Results, Misses Estimates By $0.01 EPS

Ginkgo Bioworks (NYSE:DNAGet Free Report) released its earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01), Yahoo Finance reports. Ginkgo Bioworks had a negative net margin of 272.30% and a negative return on equity of 36.36%. During the same period in the prior year, the company posted ($0.04) EPS.

Ginkgo Bioworks Price Performance

Shares of DNA stock traded down $0.02 during mid-day trading on Thursday, hitting $1.50. The stock had a trading volume of 19,582,600 shares, compared to its average volume of 21,520,666. Ginkgo Bioworks has a 12-month low of $1.12 and a 12-month high of $2.55. The firm has a market capitalization of $3.18 billion, a P/E ratio of -3.32 and a beta of 1.29. The firm’s 50-day moving average is $1.42 and its two-hundred day moving average is $1.57.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BTIG Research cut Ginkgo Bioworks from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. Raymond James cut Ginkgo Bioworks from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $3.50 to $2.50 in a report on Tuesday, November 14th. Finally, The Goldman Sachs Group dropped their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a report on Monday, January 22nd.

Check Out Our Latest Analysis on Ginkgo Bioworks

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 42,402 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $1.39, for a total value of $58,938.78. Following the completion of the sale, the insider now directly owns 676,844 shares in the company, valued at approximately $940,813.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Barry Canton sold 36,829 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $1.34, for a total transaction of $49,350.86. Following the completion of the sale, the insider now directly owns 12,413,025 shares in the company, valued at approximately $16,633,453.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 42,402 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $1.39, for a total value of $58,938.78. Following the sale, the insider now owns 676,844 shares of the company’s stock, valued at $940,813.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 593,120 shares of company stock worth $870,946. 15.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in DNA. Envestnet Asset Management Inc. acquired a new position in Ginkgo Bioworks during the 1st quarter valued at about $211,000. ProShare Advisors LLC acquired a new position in Ginkgo Bioworks during the 1st quarter valued at about $284,000. JPMorgan Chase & Co. increased its position in Ginkgo Bioworks by 125.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company’s stock valued at $10,865,000 after buying an additional 1,498,987 shares in the last quarter. Raymond James & Associates increased its position in Ginkgo Bioworks by 299.5% during the 1st quarter. Raymond James & Associates now owns 88,918 shares of the company’s stock valued at $358,000 after buying an additional 66,660 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Ginkgo Bioworks by 115.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company’s stock valued at $105,000 after buying an additional 13,957 shares in the last quarter. 56.84% of the stock is currently owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

(Get Free Report)

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

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Earnings History for Ginkgo Bioworks (NYSE:DNA)

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