Ginkgo Bioworks (NYSE:DNA) Stock: Insider Jason Kelly Sells 45,682 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Jason Kelly sold 45,682 shares of Ginkgo Bioworks stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $10.14, for a total transaction of $463,215.48. Following the completion of the sale, the insider directly owned 129,065 shares of the company’s stock, valued at $1,308,719.10. The trade was a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Price Performance

DNA traded up $0.11 during trading on Wednesday, hitting $9.97. The company’s stock had a trading volume of 1,766,599 shares, compared to its average volume of 1,454,035. The firm’s 50 day moving average price is $8.91 and its 200-day moving average price is $8.60. The stock has a market cap of $671.65 million, a PE ratio of -1.99 and a beta of 1.79. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.37 and a twelve month high of $18.22.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Equities analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.20 earnings per share for the current year.

Analysts Set New Price Targets

DNA has been the topic of several recent analyst reports. TD Cowen increased their target price on Ginkgo Bioworks from $9.00 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Zacks Research raised shares of Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Oppenheimer set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. Finally, BTIG Research reissued a “sell” rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DNA. Balance Capital Partners L.P. purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth $1,972,179. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the first quarter valued at about $616,000. Q Fund Management Hong Kong Ltd purchased a new stake in Ginkgo Bioworks during the third quarter valued at about $505,000. Integrated Wealth Concepts LLC purchased a new stake in Ginkgo Bioworks during the second quarter valued at about $50,000. Finally, Arizona State Retirement System acquired a new stake in Ginkgo Bioworks during the second quarter worth about $102,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.