Ginkgo Bioworks (NYSE:DNA) Reaches New 12-Month High – Here’s What Happened

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) hit a new 52-week high during trading on Thursday . The stock traded as high as $17.58 and last traded at $16.09, with a volume of 3162472 shares. The stock had previously closed at $14.82.

Wall Street Analyst Weigh In

DNA has been the topic of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday. Finally, BTIG Research boosted their price target on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.00.

Ginkgo Bioworks Stock Down 11.3%

The company has a market capitalization of $800.09 million, a P/E ratio of -2.31 and a beta of 1.54. The company’s 50-day moving average is $12.54 and its two-hundred day moving average is $10.02.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.34. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. The business had revenue of $49.60 million during the quarter, compared to analysts’ expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven P. Coen sold 5,609 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total transaction of $84,135.00. Following the transaction, the insider directly owned 5,503 shares in the company, valued at approximately $82,545. This represents a 50.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.72% of the stock is owned by insiders.

Institutional Trading of Ginkgo Bioworks

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Ginkgo Bioworks by 25.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock worth $3,915,000 after acquiring an additional 139,126 shares during the last quarter. Invesco Ltd. raised its position in Ginkgo Bioworks by 252.8% in the 1st quarter. Invesco Ltd. now owns 93,684 shares of the company’s stock worth $534,000 after purchasing an additional 67,130 shares during the period. Cubist Systematic Strategies LLC raised its position in Ginkgo Bioworks by 188.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 439,259 shares of the company’s stock worth $2,504,000 after purchasing an additional 287,221 shares during the period. American Century Companies Inc. purchased a new position in Ginkgo Bioworks in the 1st quarter worth $190,000. Finally, Forbes J M & Co. LLP raised its position 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. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.