Ginkgo Bioworks (NYSE:DNA) Reaches New 1-Year Low at $0.85

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) hit a new 52-week low on Wednesday . The stock traded as low as $0.85 and last traded at $0.89, with a volume of 37464582 shares. The stock had previously closed at $0.91.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen lowered 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 on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Price Performance

The firm has a market capitalization of $1.86 billion, a PE ratio of -1.97 and a beta of 1.35. The business’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.38.

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

Insider Transactions at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total transaction of $47,878.49. Following the sale, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Dmytruk sold 51,169 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its stake in Ginkgo Bioworks by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company’s stock valued at $858,000 after purchasing an additional 109,927 shares during the last quarter. Vanguard Group Inc. grew its holdings in Ginkgo Bioworks by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after buying an additional 4,016,221 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Ginkgo Bioworks by 79.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock valued at $210,000 after buying an additional 51,170 shares during the period. Nordea Investment Management AB grew its holdings in Ginkgo Bioworks by 5.2% in the 4th quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company’s stock valued at $7,435,000 after buying an additional 216,434 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Ginkgo Bioworks by 15.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock valued at $106,331,000 after buying an additional 7,958,613 shares during the period. 78.63% of the stock is currently owned by hedge funds and other 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.