Key Points
- Insider sale: Jason Kelly sold 45,682 Ginkgo Bioworks shares at an average $10.14, worth approximately $463,215. The sale covered tax obligations from vested equity awards, leaving him with 129,065 shares.
- Financial performance remains weak: Ginkgo reported a quarterly loss of $0.75 per share, though it beat estimates, while revenue of $20.16 million fell short of expectations. Analysts anticipate a full-year loss of $3.20 per share.
- Analyst sentiment is cautious: The stock has a consensus “Reduce” rating and a $7.00 price target, with ratings split between Hold and Sell. DNA recently traded near $9.97, while institutional investors own 78.63% of the shares.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Jason Kelly sold 45,682 shares of the firm's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $10.14, for a total value of $463,215.48. Following the sale, the insider directly owned 129,065 shares of the company's stock, valued at approximately $1,308,719.10. This represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ginkgo Bioworks Stock Up 1.2%
Shares of NYSE DNA opened at $9.97 on Thursday. The stock's fifty day simple moving average is $8.97 and its 200 day simple moving average is $8.62. The stock has a market capitalization of $671.65 million, a price-to-earnings ratio of -1.99 and a beta of 1.79. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.37 and a 52-week high of $18.22.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.16 million during the quarter, compared to the consensus estimate of $24.05 million. As a group, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.20 earnings per share for the current year.
Institutional Trading of Ginkgo Bioworks
Large investors have recently added to or reduced their stakes in the company. Balance Capital Partners L.P. purchased a new stake in shares of Ginkgo Bioworks in the second quarter valued at $1,972,179. Dimensional Fund Advisors LP boosted its position in shares of Ginkgo Bioworks by 23.8% in the first quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company's stock worth $779,000 after buying an additional 24,434 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Ginkgo Bioworks by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company's stock valued at $760,000 after buying an additional 2,178 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Ginkgo Bioworks during the first quarter valued at $616,000. Finally, Inspire Investing LLC grew its holdings in shares of 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 buying an additional 26,612 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Ginkgo Bioworks
Here are the key news stories impacting Ginkgo Bioworks this week:
- Neutral Sentiment: Several insiders and major shareholders disclosed stock sales executed at an average price of $10.14. Jason Kelly sold 45,682 shares, while Reshma Shetty and Barry Canton each reported sales of 18,803 and 22,369 shares, respectively; Steven Coen sold 766 shares. Each filing stated that the transactions funded tax obligations related to vested equity awards, reducing their negative signaling. SEC insider transaction filing
- Negative Sentiment: The cluster of sales still represents reduced ownership by company insiders and a major shareholder, which can weigh on sentiment because investors often monitor insider transactions as a confidence indicator. SEC insider transaction filing
- Negative Sentiment: DNA recently closed lower even as the broader market gained, highlighting continued stock-specific pressure and investor concern around the company’s performance. Zacks DNA stock analysis
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. BTIG Research restated a "sell" rating and set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Friday, September 4th. TD Cowen raised their target price on shares of Ginkgo Bioworks from $9.00 to $11.00 and gave the stock a "hold" rating in a report on Tuesday, October 13th. Oppenheimer set a $5.00 target price on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. Wall Street Zen raised shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, September 26th. Finally, Zacks Research raised shares of Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $7.00.
Read Our Latest Analysis on Ginkgo Bioworks
Ginkgo Bioworks Company Profile
(
Get Free Report)
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.
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