Ginkgo Bioworks (NYSE:DNA) Hits New 1-Year High – Here’s Why

by · The Markets Daily

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as $18.22 and last traded at $15.5170, with a volume of 2024663 shares changing hands. The stock had previously closed at $14.98.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DNA shares. BTIG Research reaffirmed a “sell” rating and issued a $5.00 price target on shares of Ginkgo Bioworks in a report on Friday, September 4th. Oppenheimer set a $5.00 price objective on Ginkgo Bioworks in a report on Wednesday, September 9th. Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $6.33.

Read Our Latest Stock Analysis on Ginkgo Bioworks

Ginkgo Bioworks Price Performance

The stock’s fifty day moving average is $8.40 and its 200-day moving average is $8.30. The stock has a market capitalization of $774.75 million, a PE ratio of -2.30 and a beta of 1.79.

Ginkgo Bioworks (NYSE:DNA – Get Free Report) last released its quarterly 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. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -3.2 EPS for the current year.

Insider Transactions at Ginkgo Bioworks

In related news, Director Christian O. Henry sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total value of $35,400.00. Following the completion of the transaction, the director owned 19,310 shares of the company’s stock, valued at approximately $136,714.80. This represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven P. Coen sold 2,403 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $15.00, for a total value of $36,045.00. Following the transaction, the insider owned 49,448 shares in the company, valued at $741,720. This represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,733 shares of company stock worth $73,748 over the last 90 days. Insiders own 12.69% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

A number of institutional investors and hedge funds have recently made changes to their positions in DNA. Balance Capital Partners L.P. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at approximately $1,972,179. Dimensional Fund Advisors LP grew its stake in Ginkgo Bioworks by 23.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company’s stock valued at $779,000 after acquiring an additional 24,434 shares during the period. Bank of New York Mellon Corp grew its stake in Ginkgo Bioworks by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock valued at $760,000 after acquiring an additional 2,178 shares during the period. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks in the 1st quarter worth $616,000. Finally, Inspire Investing LLC increased its holdings in Ginkgo Bioworks by 46.4% in the 1st quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock worth $514,000 after acquiring an additional 26,612 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

About Ginkgo Bioworks

(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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