Key Points
- Jason R. Kelly sold 97,015 shares on April 8 at an average price of $6.93 (≈$672,314), cutting his stake by 18.54% to 426,250 shares; the filings say the sales were made to cover tax withholding on vested equity awards.
- Ginkgo trades near $6.46 with a market cap of about $400M and negative earnings, faces mixed analyst coverage (average rating "Reduce" and average target ~$8.50), while institutional ownership is high (~78.6%) and short interest recently fell ~23% to roughly 11% of the float.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Jason Kelly sold 97,015 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $6.93, for a total value of $672,313.95. Following the transaction, the insider directly owned 426,250 shares in the company, valued at $2,953,912.50. The trade was a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ginkgo Bioworks Trading Up 0.4%
NYSE:DNA opened at $6.46 on Friday. The firm has a market capitalization of $399.76 million, a price-to-earnings ratio of -1.14 and a beta of 1.56. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $5.37 and a 1-year high of $17.58. The business's fifty day moving average price is $7.63 and its 200 day moving average price is $9.52.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, beating the consensus estimate of ($1.80) by $0.38. The firm had revenue of $33.40 million for the quarter, compared to analyst estimates of $37.57 million. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%. Equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have commented on DNA shares. TD Cowen lowered their target price on Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Wall Street Zen upgraded Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. Finally, BTIG Research lowered their target price on Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $8.50.
Get Our Latest Report on Ginkgo Bioworks
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of DNA. Millennium Management LLC grew its stake in Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after purchasing an additional 757,535 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Ginkgo Bioworks during the 4th quarter worth about $4,503,000. Jump Financial LLC bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth about $4,163,000. State Street Corp boosted its stake in shares of Ginkgo Bioworks by 38.4% during the 4th quarter. State Street Corp now owns 1,292,071 shares of the company's stock worth $10,737,000 after acquiring an additional 358,231 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ginkgo Bioworks by 28,457.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company's stock worth $1,901,000 after acquiring an additional 227,943 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.
Trending Headlines about Ginkgo Bioworks
Here are the key news stories impacting Ginkgo Bioworks this week:
- Positive Sentiment: March short interest fell sharply — short interest totaled 6,146,646 shares as of March 31, down 23.2% from 8,004,118 on March 15; roughly 11.0% of the float is sold short and the days-to-cover is ~5.2. Reduced short exposure can remove a headwind and support the stock.
- Negative Sentiment: Large insider sales by the CEO: Jason R. Kelly sold 97,015 shares on April 8 (avg $6.93) and 109,767 shares on April 9 (avg $6.40), totaling ~206,782 shares (~$1.37M) and materially reducing his holdings. The filings say the sales were to cover tax withholding on vested equity. Jason R. Kelly Form 4
- Negative Sentiment: Other insiders/major holders also sold small blocks (Reshma P. Shetty and Barry Canton each sold ~13k shares on April 8–9 at similar prices). These rounds of sales were likewise disclosed as tax-withholding-related. Reshma's filing: Reshma P. Shetty Form 4; Barry Canton's filing: Barry Canton Form 4
About Ginkgo Bioworks
(
Get Free Report)
Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.
The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.
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