Ginkgo Bioworks (NYSE:DNA) Reaches New 1-Year Low at $0.85

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $0.85 and last traded at $0.89, with a volume of 37464582 shares. The stock had previously closed at $0.91.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DNA shares. The Goldman Sachs Group decreased their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a report on Monday, January 22nd. TD Cowen reduced their price objective on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.20.

Ginkgo Bioworks Price Performance

The company has a market cap of $1.89 billion, a PE ratio of -1.95 and a beta of 1.35. The company has a 50-day moving average price of $1.22 and a two-hundred day moving average price of $1.39.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The firm had revenue of $34.76 million during the quarter, compared to analyst estimates of $40.37 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business’s quarterly revenue was down 64.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

Insider Transactions at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the sale, the insider now owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC grew its holdings in shares of Ginkgo Bioworks by 9.0% during the fourth quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock valued at $335,645,000 after buying an additional 16,414,434 shares in the last quarter. Vanguard Group Inc. grew its stake in Ginkgo Bioworks by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after acquiring an additional 463,096 shares in the last quarter. BlackRock Inc. lifted its position in shares of Ginkgo Bioworks by 34.6% in the second quarter. BlackRock Inc. now owns 68,202,832 shares of the company’s stock worth $126,857,000 after purchasing an additional 17,538,752 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Ginkgo Bioworks by 15.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after purchasing an additional 7,958,613 shares during the period. Finally, State Street Corp lifted its position in Ginkgo Bioworks by 40.6% in the 2nd quarter. State Street Corp now owns 20,683,752 shares of the company’s stock worth $38,472,000 after buying an additional 5,976,244 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.