Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Ginkgo Bioworks Holdings, Inc. $DNA

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 28,457.3% during the fourth quarter, HoldingsChannel reports. The firm owned 228,744 shares of the company’s stock after purchasing an additional 227,943 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ginkgo Bioworks were worth $1,901,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DNA. Quarry LP purchased a new position in Ginkgo Bioworks during the 3rd quarter valued at about $29,000. Raymond James Financial Inc. purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $29,000. Strs Ohio purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $44,000. Daiwa Securities Group Inc. purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $71,000. Finally, State of Wyoming purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Up 1.2%

DNA stock opened at $8.79 on Thursday. The firm has a 50 day moving average of $7.63 and a 200 day moving average of $8.32. The stock has a market capitalization of $574.16 million, a PE ratio of -1.64 and a beta of 1.77. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.38. The company had revenue of $33.40 million during the quarter, compared to analysts’ expectations of $37.57 million. Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Reshma P. Shetty sold 124,727 shares of Ginkgo Bioworks stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $6.43, for a total transaction of $801,994.61. Following the completion of the sale, the insider directly owned 436,422 shares in the company, valued at approximately $2,806,193.46. The trade was a 22.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven P. Coen sold 33,171 shares of Ginkgo Bioworks stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $6.41, for a total transaction of $212,626.11. Following the sale, the insider owned 49,849 shares of the company’s stock, valued at approximately $319,532.09. The trade was a 39.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 543,288 shares of company stock valued at $3,551,556. 12.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DNA shares. Wall Street Zen downgraded shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Monday, April 20th. Finally, BTIG Research lowered their target price 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. 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, the stock currently has an average rating of “Reduce” and a consensus target price of $8.50.

Ginkgo Bioworks Profile

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.