Shell Asset Management Co. Buys Shares of 57,998 Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Shell Asset Management Co. purchased a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) in the 2nd quarter, Holdings Channel reports. The fund purchased 57,998 shares of the company’s stock, valued at approximately $138,000.

Other large investors have also modified their holdings of the company. Renaissance Investment Group LLC grew its position in Ginkgo Bioworks by 126.9% in the 1st quarter. Renaissance Investment Group LLC now owns 32,100 shares of the company’s stock worth $100,000 after purchasing an additional 17,950 shares during the last quarter. FDx Advisors Inc. bought a new position in Ginkgo Bioworks in the 1st quarter worth approximately $150,000. Tuttle Capital Management LLC increased its position in Ginkgo Bioworks by 40.1% in the 1st quarter. Tuttle Capital Management LLC now owns 19,526 shares of the company’s stock valued at $79,000 after acquiring an additional 5,589 shares during the period. Envestnet Asset Management Inc. bought a new stake in Ginkgo Bioworks during the 1st quarter valued at $211,000. Finally, Commonwealth Equity Services LLC boosted its position in Ginkgo Bioworks by 36.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 95,676 shares of the company’s stock worth $385,000 after acquiring an additional 25,809 shares during the period. Institutional investors and hedge funds own 53.37% of the company’s stock.

Ginkgo Bioworks Price Performance

Shares of NYSE DNA opened at $2.19 on Friday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $1.96 and a twelve month high of $13.74. The company has a current ratio of 11.71, a quick ratio of 11.78 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $2.80 and a two-hundred day moving average of $2.85. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -0.96 and a beta of 0.89.

Analyst Ratings Changes

A number of brokerages have recently commented on DNA. BTIG Research lowered their price target on Ginkgo Bioworks to $4.00 in a report on Thursday. 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 target on the stock. Finally, Raymond James reduced their price target on shares of Ginkgo Bioworks from $14.50 to $10.50 and set an “outperform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of “Hold” and an average target price of $6.55.

Insider Buying and Selling

In related news, major shareholder Barry Canton sold 219,088 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $2.42, for a total transaction of $530,192.96. Following the completion of the sale, the insider now directly owns 20,943,633 shares in the company, valued at $50,683,591.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Barry Canton sold 219,088 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $2.42, for a total transaction of $530,192.96. Following the completion of the sale, the insider now directly owns 20,943,633 shares of the company’s stock, valued at $50,683,591.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason R. Kelly sold 219,089 shares of Ginkgo Bioworks stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $2.42, for a total value of $530,195.38. Following the completion of the transaction, the insider now directly owns 20,943,617 shares in the company, valued at approximately $50,683,553.14. The disclosure for this sale can be found here. Insiders have sold 6,493,901 shares of company stock worth $17,358,313 in the last ninety days. 17.47% of the stock is currently owned by corporate insiders.

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.

See Also

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

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