Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Reshma P. Shetty Sells 162,193 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) insider Reshma P. Shetty sold 162,193 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $1.71, for a total value of $277,350.03. Following the completion of the sale, the insider now directly owns 16,142,867 shares of the company’s stock, valued at approximately $27,604,302.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ginkgo Bioworks Trading Down 0.6 %

DNA stock opened at $1.66 on Friday. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $1.45 and a 1-year high of $6.38. The firm has a market cap of $3.22 billion, a P/E ratio of -0.72 and a beta of 0.68. The business’s 50 day moving average is $1.83 and its 200-day moving average is $2.53. 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 (NYSE:DNA – Get Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. The company had revenue of $66.40 million during the quarter, compared to the consensus estimate of $54.28 million. Equities analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently modified their holdings of DNA. Envestnet Asset Management Inc. bought a new stake in Ginkgo Bioworks during the 1st quarter worth approximately $211,000. ProShare Advisors LLC bought a new stake in Ginkgo Bioworks during the 1st quarter worth approximately $284,000. JPMorgan Chase & Co. grew its position in Ginkgo Bioworks by 125.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company’s stock worth $10,865,000 after acquiring an additional 1,498,987 shares during the last quarter. Raymond James & Associates grew its position in Ginkgo Bioworks by 299.5% during the 1st quarter. Raymond James & Associates now owns 88,918 shares of the company’s stock worth $358,000 after acquiring an additional 66,660 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Ginkgo Bioworks by 115.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company’s stock worth $105,000 after acquiring an additional 13,957 shares during the last quarter. 61.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ginkgo Bioworks Company Profile

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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.