Ginkgo Bioworks (NYSE:DNA) Reaches New 1-Year Low at $0.79

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $0.79 and last traded at $0.80, with a volume of 10854269 shares. The stock had previously closed at $0.85.

Wall Street Analyst Weigh In

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

Ginkgo Bioworks Trading Down 10.0 %

The firm’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.35. The company has a market capitalization of $1.64 billion, a P/E ratio of -1.64 and a beta of 1.35.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently modified their holdings of the stock. First Trust Direct Indexing L.P. bought a new position in shares of Ginkgo Bioworks in the first quarter worth $35,000. Quattro Financial Advisors LLC grew its stake in shares of Ginkgo Bioworks by 8,749,900.0% during the first quarter. Quattro Financial Advisors LLC now owns 175,000 shares of the company’s stock worth $203,000 after purchasing an additional 174,998 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Ginkgo Bioworks by 110.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock worth $5,520,000 after purchasing an additional 2,499,425 shares during the last quarter. Green Alpha Advisors LLC increased its position in shares of Ginkgo Bioworks by 47.5% in the first quarter. Green Alpha Advisors LLC now owns 297,637 shares of the company’s stock worth $345,000 after purchasing an additional 95,842 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Ginkgo Bioworks by 63.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 189,646 shares of the company’s stock valued at $321,000 after buying an additional 73,843 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Ginkgo Bioworks Company Profile

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.