Insider Selling: Ginkgo Bioworks (NYSE:DNA) Insider Sells $801,994.61 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Reshma Shetty sold 124,727 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $6.43, for a total value of $801,994.61. Following the sale, the insider directly owned 436,422 shares of the company’s stock, valued at approximately $2,806,193.46. The trade was a 22.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $7.80 on Thursday. The business has a 50 day simple moving average of $7.55 and a 200 day simple moving average of $9.41. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $5.37 and a 52-week high of $17.58. The stock has a market cap of $482.67 million, a price-to-earnings ratio of -1.38 and a beta of 1.56.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share (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 business had revenue of $33.40 million during the quarter, compared to analysts’ expectations of $37.57 million. On average, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently added to or reduced their stakes in DNA. AQR Capital Management LLC lifted its holdings in Ginkgo Bioworks by 322.6% during the 1st quarter. AQR Capital Management LLC now owns 158,939 shares of the company’s stock valued at $906,000 after purchasing an additional 121,326 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 last quarter. Goldman Sachs Group Inc. lifted its holdings in Ginkgo Bioworks by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock valued at $3,915,000 after purchasing an additional 139,126 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Ginkgo Bioworks during the 1st quarter valued at $120,000. Finally, Rhumbline Advisers acquired a new stake in Ginkgo Bioworks during the 2nd quarter valued at $666,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DNA. BTIG Research decreased their price target on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, TD Cowen cut their price objective on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks has an average 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.