Jason Kelly Sells 97,015 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Jason Kelly sold 97,015 shares of Ginkgo Bioworks stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $6.93, for a total value of $672,313.95. Following the transaction, the insider directly owned 426,250 shares in the company, valued at $2,953,912.50. The trade was a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Performance

Shares of DNA stock traded up $0.03 on Friday, hitting $6.46. The company had a trading volume of 747,077 shares, compared to its average volume of 1,127,962. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.37 and a twelve month high of $17.58. The firm has a market cap of $399.76 million, a P/E ratio of -1.14 and a beta of 1.56. The stock’s 50-day moving average is $7.68 and its two-hundred day moving average is $9.56.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.38. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%.The company had revenue of $33.40 million for the quarter, compared to analyst estimates of $37.57 million. Equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Institutional Trading of Ginkgo Bioworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH boosted its holdings in Ginkgo Bioworks by 10.0% in the third quarter. Erste Asset Management GmbH now owns 2,200,000 shares of the company’s stock worth $32,076,000 after acquiring an additional 200,000 shares in the last quarter. Jump Financial LLC acquired a new stake in Ginkgo Bioworks in the second quarter valued at approximately $4,163,000. Allianz Asset Management GmbH bought a new stake in shares of Ginkgo Bioworks during the third quarter valued at approximately $2,802,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Ginkgo Bioworks during the third quarter valued at approximately $1,458,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Ginkgo Bioworks during the fourth quarter worth approximately $166,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DNA has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. TD Cowen dropped their target price on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, BTIG Research cut their price target on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, March 12th. 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.com, Ginkgo Bioworks currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

About Ginkgo Bioworks

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.