Ginkgo Bioworks (NYSE:DNA) Stock Price Down 8.8% – Time to Sell?

by · The Markets Daily

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report)’s share price traded down 8.8% during trading on Tuesday . The stock traded as low as $8.82 and last traded at $8.7090. 202,022 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 828,653 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen cut shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. TD Cowen cut 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $10.50.

View Our Latest Research Report on DNA

Ginkgo Bioworks Price Performance

The business’s 50 day simple moving average is $8.90 and its 200 day simple moving average is $11.10. The company has a market capitalization of $650.74 million, a PE ratio of -1.72 and a beta of 1.55.

Ginkgo Bioworks (NYSE:DNA – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.21). The company had revenue of $38.84 million during the quarter, compared to analyst estimates of $38.95 million. Ginkgo Bioworks had a negative net margin of 188.00% and a negative return on equity of 51.15%. As a group, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Ginkgo Bioworks by 113.1% during the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock worth $8,137,000 after buying an additional 757,535 shares during the last quarter. Geode Capital Management LLC lifted its position in Ginkgo Bioworks by 104.5% during the 2nd quarter. Geode Capital Management LLC now owns 937,583 shares of the company’s stock worth $10,549,000 after acquiring an additional 479,154 shares during the period. Prescott Group Capital Management L.L.C. grew its stake in shares of Ginkgo Bioworks by 112.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 775,568 shares of the company’s stock valued at $8,725,000 after purchasing an additional 409,851 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $4,163,000. Finally, Erste Asset Management GmbH increased its holdings in shares of Ginkgo Bioworks by 10.0% in the third quarter. Erste Asset Management GmbH now owns 2,200,000 shares of the company’s stock valued at $32,076,000 after purchasing an additional 200,000 shares during the period. 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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