Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Jason R. Kelly Sells 143,807 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) insider Jason R. Kelly sold 143,807 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $1.75, for a total value of $251,662.25. Following the transaction, the insider now directly owns 15,359,782 shares of the company’s stock, valued at $26,879,618.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ginkgo Bioworks Price Performance

Shares of NYSE DNA opened at $1.81 on Wednesday. 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 twelve month low of $1.45 and a twelve month high of $6.38. The stock has a 50 day moving average of $1.80 and a two-hundred day moving average of $2.51. The stock has a market cap of $3.51 billion, a P/E ratio of -0.79 and a beta of 0.68.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last issued its quarterly earnings data 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). Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. The firm had revenue of $66.40 million during the quarter, compared to analysts’ expectations of $54.28 million. On average, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -1.41 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DNA. Envestnet Asset Management Inc. acquired a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $211,000. ProShare Advisors LLC acquired a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $284,000. JPMorgan Chase & Co. increased its holdings in shares of Ginkgo Bioworks by 125.2% in the first quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company’s stock valued at $10,865,000 after purchasing an additional 1,498,987 shares during the period. Raymond James & Associates increased its holdings in shares of Ginkgo Bioworks by 299.5% in the first quarter. Raymond James & Associates now owns 88,918 shares of the company’s stock valued at $358,000 after purchasing an additional 66,660 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Ginkgo Bioworks by 115.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company’s stock valued at $105,000 after purchasing an additional 13,957 shares during the period. Institutional investors and hedge funds own 61.83% of the company’s stock.

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.