M&T Bank Corp Purchases New Shares in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

M&T Bank Corp purchased a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,496 shares of the company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Ginkgo Bioworks in the 1st quarter valued at $43,000. Lincoln National Corp purchased a new position in Ginkgo Bioworks during the 2nd quarter worth $26,000. B. Riley Wealth Management Inc. purchased a new position in Ginkgo Bioworks during the 1st quarter worth $48,000. Hancock Whitney Corp purchased a new position in Ginkgo Bioworks during the 1st quarter worth $48,000. Finally, Formidable Asset Management LLC purchased a new position in Ginkgo Bioworks during the 1st quarter worth $62,000. Hedge funds and other institutional investors own 53.37% of the company’s stock.

Wall Street Analyst Weigh In

DNA has been the subject of a number of analyst reports. Raymond James cut their price objective on shares of Ginkgo Bioworks from $14.50 to $10.50 and set an “outperform” rating for the company in a research report on Wednesday. BTIG Research cut their price objective on shares of Ginkgo Bioworks to $4.00 in a research report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Ginkgo Bioworks in a research report on Tuesday, October 4th. They set an “equal weight” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.55.

Insider Activity

In other news, major shareholder Barry Canton sold 343,072 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $3.12, for a total value of $1,070,384.64. Following the completion of the transaction, the insider now owns 26,212,735 shares in the company, valued at approximately $81,783,733.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Reshma P. Shetty sold 343,071 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $3.12, for a total value of $1,070,381.52. Following the sale, the insider now directly owns 26,212,736 shares of the company’s stock, valued at approximately $81,783,736.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Barry Canton sold 343,072 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $3.12, for a total transaction of $1,070,384.64. Following the completion of the sale, the insider now directly owns 26,212,735 shares in the company, valued at $81,783,733.20. The disclosure for this sale can be found here. Insiders sold 6,493,901 shares of company stock worth $17,358,313 in the last 90 days. 17.47% of the stock is currently owned by corporate insiders.

Ginkgo Bioworks Stock Performance

Shares of DNA opened at $2.19 on Friday. The company has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $2.85. The company has a quick ratio of 11.78, a current ratio of 11.71 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.91 billion, a PE ratio of -0.96 and a beta of 0.89. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $1.96 and a 52-week high of $13.74.

About Ginkgo Bioworks

(Get Rating)

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

Further Reading

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Institutional Ownership by Quarter for Ginkgo Bioworks (NYSE:DNA)

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