Key Points
- Reshma Shetty sold 124,727 shares of Ginkgo on April 10 at an average $6.43 (~$801,995), cutting her stake by 22.23% to 436,422 shares; the SEC-filed sale was to cover tax withholding on vested equity awards.
- Ginkgo remains unprofitable — it reported (‑$1.42) EPS that beat estimates but missed revenue ($33.4M vs. $37.6M), with a deeply negative net margin, and analysts carry a consensus rating of Reduce with a price target of $8.50.
- Institutional interest is high: hedge funds such as Millennium Management materially increased positions (now 1,427,600 shares) and institutions own about 78.63% of the stock.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Reshma Shetty sold 124,727 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $6.43, for a total value of $801,994.61. Following the completion of the transaction, the insider directly owned 436,422 shares of the company's stock, valued at $2,806,193.46. This trade represents a 22.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ginkgo Bioworks Stock Up 3.7%
DNA stock opened at $6.69 on Tuesday. The company has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $9.45. The company has a market capitalization of $414.00 million, a P/E ratio of -1.18 and a beta of 1.56. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $17.58.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.80) by $0.38. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. The firm had revenue of $33.40 million for the quarter, compared to analysts' expectations of $37.57 million. Equities analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently commented on DNA shares. BTIG Research dropped their target price on Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating on the stock in a report on Thursday, March 12th. TD Cowen decreased their price target on Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating for the company 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 report on Saturday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $8.50.
Check Out Our Latest Analysis on DNA
Hedge Funds Weigh In On Ginkgo Bioworks
Hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of Ginkgo Bioworks by 113.1% in the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock worth $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 Ginkgo Bioworks during the fourth quarter worth approximately $4,503,000. State Street Corp boosted its holdings in Ginkgo Bioworks by 38.4% during the fourth quarter. State Street Corp now owns 1,292,071 shares of the company's stock worth $10,737,000 after buying an additional 358,231 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Ginkgo Bioworks by 28,457.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company's stock worth $1,901,000 after buying an additional 227,943 shares during the last quarter. Finally, UBS Group AG grew its position in Ginkgo Bioworks by 86.4% in the fourth quarter. UBS Group AG now owns 489,418 shares of the company's stock worth $4,067,000 after buying an additional 226,861 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.
Ginkgo Bioworks Company Profile
(
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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