AE Wealth Management LLC Makes New Investment in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

AE Wealth Management LLC acquired a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 15,450 shares of the company’s stock, valued at approximately $48,000.

A number of other large investors have also made changes to their positions in DNA. ARK Investment Management LLC grew its position in Ginkgo Bioworks by 45.2% during the third quarter. ARK Investment Management LLC now owns 126,818,856 shares of the company’s stock worth $395,675,000 after buying an additional 39,460,799 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Ginkgo Bioworks by 22.4% in the 2nd quarter. Baillie Gifford & Co. now owns 205,327,786 shares of the company’s stock worth $488,680,000 after acquiring an additional 37,575,106 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $52,022,000. State Street Corp grew its holdings in shares of Ginkgo Bioworks by 210.3% during the 2nd quarter. State Street Corp now owns 12,411,855 shares of the company’s stock worth $29,540,000 after purchasing an additional 8,411,787 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Ginkgo Bioworks by 46.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 21,858,173 shares of the company’s stock valued at $52,678,000 after purchasing an additional 6,937,185 shares during the period. Institutional investors and hedge funds own 61.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research decreased their price target on shares of Ginkgo Bioworks to $4.00 in a research note on Thursday, November 17th. Morgan Stanley began coverage on shares of Ginkgo Bioworks in a research report on Tuesday, October 4th. They set an “equal weight” rating and a $5.00 target price on the stock. Berenberg Bank initiated coverage on shares of Ginkgo Bioworks in a research report on Monday, November 28th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Raymond James decreased their price objective on Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.92.

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Jason R. Kelly sold 151,531 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $1.86, for a total value of $281,847.66. Following the completion of the sale, the insider now owns 16,172,783 shares in the company, valued at approximately $30,081,376.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ginkgo Bioworks news, insider Reshma P. Shetty sold 189,138 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $2.90, for a total transaction of $548,500.20. Following the transaction, the insider now owns 23,578,068 shares of the company’s stock, valued at approximately $68,376,397.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jason R. Kelly sold 151,531 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $1.86, for a total value of $281,847.66. Following the transaction, the insider now directly owns 16,172,783 shares in the company, valued at approximately $30,081,376.38. The disclosure for this sale can be found here. Insiders sold 7,519,837 shares of company stock valued at $16,214,213 over the last ninety days. 17.47% of the stock is owned by insiders.

Ginkgo Bioworks Stock Performance

NYSE:DNA opened at $1.67 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of -0.73 and a beta of 0.68. The company has a current ratio of 11.71, a quick ratio of 11.67 and a debt-to-equity ratio of 0.04. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $1.45 and a 1 year high of $6.38. The firm has a 50 day moving average of $1.85 and a 200-day moving average of $2.54.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The business had revenue of $66.40 million for the quarter, compared to analyst estimates of $54.28 million. Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. As a group, sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -1.41 EPS for the current fiscal year.

About Ginkgo Bioworks

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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.