Key Points
- Director sale: Christian Henry sold 5,000 Ginkgo Bioworks shares at an average price of $7.08, reducing his direct stake by 20.57% to 19,310 shares.
- Financial performance: Ginkgo reported a quarterly loss of $0.75 per share, better than the expected $0.90 loss, but revenue of $20.16 million fell short of the $24.05 million estimate.
- Analyst sentiment remains weak: The stock has a consensus “Reduce” rating, with two Hold and two Sell ratings and an average price target of $6.33.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) Director Christian Henry sold 5,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $136,714.80. The trade was a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Ginkgo Bioworks Stock Up 0.8%
Shares of DNA stock opened at $7.04 on Thursday. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.37 and a 12 month high of $17.58. The company has a market cap of $474.41 million, a PE ratio of -1.41 and a beta of 1.76. The business's 50 day moving average is $7.63 and its two-hundred day moving average is $7.87.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $20.16 million during the quarter, compared to analysts' expectations of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. As a group, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current fiscal year.
Institutional Trading of Ginkgo Bioworks
A number of hedge funds have recently bought and sold shares of the stock. Strategic Advocates LLC grew its position in Ginkgo Bioworks by 808.9% in the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after purchasing an additional 3,899 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Ginkgo Bioworks during the second quarter valued at about $50,000. Western Wealth Management LLC bought a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at about $83,000. Arizona State Retirement System bought a new stake in shares of Ginkgo Bioworks in the second quarter valued at about $102,000. Finally, Entropy Technologies LP acquired a new stake in Ginkgo Bioworks during the first quarter worth about $67,000. 78.63% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
DNA has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Ginkgo Bioworks from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Zacks Research raised Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. BTIG Research reiterated a "sell" rating and issued a $5.00 price objective on shares of Ginkgo Bioworks in a research note on Friday, September 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Finally, TD Cowen downgraded Ginkgo Bioworks from a "buy" rating to a "hold" rating and decreased their target price for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $6.33.
Read Our Latest Stock Analysis on Ginkgo Bioworks
About Ginkgo Bioworks
(
Get Free Report)
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.
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