Ginkgo Bioworks (NYSE:DNA) Shares Up 10.4% – Still a Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares were up 10.4% during mid-day trading on Wednesday. The stock traded as high as $12.80 and last traded at $13.2060. 1,605,815 shares changed hands during trading, an increase of 30% from the average daily volume of 1,239,489 shares. The stock had previously closed at $11.96.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BTIG Research reaffirmed a “sell” rating and set a $5.00 price objective on shares of Ginkgo Bioworks in a research report on Friday, September 4th. TD Cowen cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and dropped their target price for the company from $12.00 to $9.00 in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Wall Street Zen upgraded shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Oppenheimer set a $5.00 price objective on shares of Ginkgo Bioworks in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $6.33.

Ginkgo Bioworks Price Performance

The stock has a market cap of $889.29 million, a P/E ratio of -2.58 and a beta of 1.76. The business’s fifty day moving average price is $7.78 and its 200 day moving average price is $8.04.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.15. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, Director Christian Henry sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total transaction of $35,400.00. Following the sale, the director owned 19,310 shares of the company’s stock, valued at approximately $136,714.80. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.69% of the company’s stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently modified their holdings of DNA. Integrated Wealth Concepts LLC acquired a new position in Ginkgo Bioworks in the 2nd quarter worth about $50,000. Arizona State Retirement System acquired a new stake in shares of Ginkgo Bioworks during the second quarter valued at about $102,000. AXQ Capital LP bought a new stake in shares of Ginkgo Bioworks during the second quarter worth about $262,000. Balance Capital Partners L.P. acquired a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $1,972,179. Finally, Entropy Technologies LP acquired a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.