Ginkgo Bioworks (NYSE:DNA) Director Sells $35,400.00 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Director Christian Henry sold 5,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the sale, the director directly owned 19,310 shares in the company, valued at $136,714.80. This trade represents a 20.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ginkgo Bioworks Stock Up 0.5%

Shares of NYSE DNA opened at $7.88 on Friday. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $17.58. The business has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $7.87. The company has a market cap of $530.57 million, a P/E ratio of -1.57 and a beta of 1.76.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%.The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $24.05 million. Equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC raised its stake in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after purchasing an additional 3,899 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Ginkgo Bioworks in the 2nd quarter worth $50,000. Entropy Technologies LP purchased a new stake in shares of Ginkgo Bioworks during the 1st quarter valued at $67,000. Western Wealth Management LLC purchased a new stake in shares of Ginkgo Bioworks during the 4th quarter valued at $83,000. Finally, Boston Standard Wealth Management LLC purchased a new stake in shares of Ginkgo Bioworks during the 1st quarter valued at $97,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on DNA shares. BTIG Research reaffirmed a “sell” rating and set a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday, September 4th. TD Cowen downgraded shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $9.00 in a report on Friday, August 7th. Oppenheimer set a $5.00 price target on shares of Ginkgo Bioworks in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Finally, Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ginkgo Bioworks currently has an average rating of “Reduce” and a consensus target price of $6.33.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.