Ginkgo Bioworks (NYSE:DNA) Stock: Insider Reshma Shetty Sells 22,369 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Reshma Shetty sold 22,369 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 $226,821.66. Following the completion of the sale, the insider owned 453,951 shares of the company’s stock, valued at $4,603,063.14. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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

NYSE:DNA traded up $0.11 during trading hours on Wednesday, hitting $9.97. 1,766,599 shares of the company were exchanged, compared to its average volume of 1,454,035. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.37 and a 52-week high of $18.22. The stock has a market capitalization of $671.65 million, a price-to-earnings ratio of -1.99 and a beta of 1.79. The company’s 50 day moving average price is $8.91 and its 200-day moving average price is $8.60.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $24.05 million. On average, equities analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.20 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently made changes to their positions in DNA. Balance Capital Partners L.P. acquired a new stake in shares of Ginkgo Bioworks in the second quarter worth $1,972,179. Renaissance Technologies LLC acquired a new position in Ginkgo Bioworks during the first quarter valued at $616,000. Q Fund Management Hong Kong Ltd acquired a new position in Ginkgo Bioworks during the third quarter valued at $505,000. Inspire Investing LLC lifted its position in Ginkgo Bioworks by 46.4% during the first quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock valued at $514,000 after purchasing an additional 26,612 shares during the period. Finally, AXQ Capital LP purchased a new stake in Ginkgo Bioworks in the second quarter valued at $262,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DNA shares. Oppenheimer set a $5.00 target price on Ginkgo Bioworks in a research note on Wednesday, September 9th. TD Cowen boosted their price target on Ginkgo Bioworks from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Thursday, October 15th. Finally, Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $7.00.

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.