Ginkgo Bioworks (NYSE:DNA) Stock Price Up 9.4%

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) were up 9.4% during mid-day trading on Friday . The stock traded as high as $1.00 and last traded at $0.94. Approximately 43,266,463 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 27,919,715 shares. The stock had previously closed at $0.86.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DNA. TD Cowen decreased their price objective 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. The Goldman Sachs Group cut their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Trading Up 9.8 %

The stock’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $1.32. The firm has a market capitalization of $2.04 billion, a PE ratio of -2.01 and a beta of 1.42.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The company had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The company’s revenue for the quarter was down 64.6% compared to the same quarter last year. Analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the transaction, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently bought and sold shares of DNA. Principal Financial Group Inc. grew its stake in shares of Ginkgo Bioworks by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 130,334 shares of the company’s stock valued at $236,000 after buying an additional 7,499 shares during the period. Raymond James & Associates boosted its holdings in Ginkgo Bioworks by 4.6% in the third quarter. Raymond James & Associates now owns 193,589 shares of the company’s stock valued at $350,000 after acquiring an additional 8,455 shares during the last quarter. Teacher Retirement System of Texas grew its position in Ginkgo Bioworks by 12.1% during the third quarter. Teacher Retirement System of Texas now owns 79,843 shares of the company’s stock valued at $145,000 after acquiring an additional 8,615 shares during the period. Cerity Partners LLC increased its stake in Ginkgo Bioworks by 5.3% during the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock worth $354,000 after acquiring an additional 10,472 shares during the last quarter. Finally, QCM Cayman Ltd. lifted its stake in shares of Ginkgo Bioworks by 56.5% in the 3rd quarter. QCM Cayman Ltd. now owns 32,446 shares of the company’s stock valued at $59,000 after purchasing an additional 11,716 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.