Insider Selling: Ginkgo Bioworks (NYSE:DNA) Insider Sells $84,135.00 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Steven Coen sold 5,609 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $15.00, for a total value of $84,135.00. Following the sale, the insider directly owned 5,503 shares of the company’s stock, valued at $82,545. The trade was a 50.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ginkgo Bioworks Trading Up 1.1%

Shares of Ginkgo Bioworks stock opened at $16.14 on Monday. The firm has a market capitalization of $955.43 million, a P/E ratio of -2.75 and a beta of 1.54. The business’s fifty day simple moving average is $12.35 and its 200 day simple moving average is $9.80. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.00 and a 12 month high of $16.85.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Thursday, August 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.44) by $0.34. The firm had revenue of $49.60 million during the quarter, compared to analyst estimates of $41.60 million. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Saturday, September 27th. BTIG Research increased their price objective on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a report on Monday, August 25th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Cowen reaffirmed a “buy” rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks has a consensus rating of “Reduce” and a consensus price target of $9.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH lifted its position in shares of Ginkgo Bioworks by 123.2% during the first quarter. Erste Asset Management GmbH now owns 1,650,000 shares of the company’s stock worth $9,405,000 after acquiring an additional 910,668 shares in the last quarter. Millennium Management LLC raised its stake in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock valued at $8,137,000 after purchasing an additional 757,535 shares during the period. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 479,154 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in 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 worth $8,725,000 after purchasing an additional 409,851 shares during the period. Finally, Forbes J M & Co. LLP boosted its stake in Ginkgo Bioworks by 56.0% in the 1st quarter. Forbes J M & Co. LLP now owns 1,094,564 shares of the company’s stock worth $6,239,000 after purchasing an additional 392,832 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.