Ginkgo Bioworks Holdings, Inc. Forecasted to Post Q1 2024 Earnings of ($0.07) Per Share (NYSE:DNA)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) – Equities research analysts at Raymond James issued their Q1 2024 earnings estimates for Ginkgo Bioworks in a research report issued on Thursday, March 2nd. Raymond James analyst R. Sarugaser forecasts that the company will post earnings of ($0.07) per share for the quarter. Raymond James currently has a “Outperform” rating and a $5.00 price target on the stock. The consensus estimate for Ginkgo Bioworks’ current full-year earnings is ($0.34) per share. Raymond James also issued estimates for Ginkgo Bioworks’ Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.07) EPS and Q4 2024 earnings at ($0.07) EPS.

A number of other equities analysts also recently commented on DNA. Berenberg Bank started coverage on shares of Ginkgo Bioworks in a report on Monday, November 28th. They issued a “buy” rating and a $6.00 price objective for the company. BTIG Research decreased their price objective on shares of Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.39.

Ginkgo Bioworks Stock Down 0.7 %

Shares of NYSE:DNA opened at $1.39 on Monday. The company has a current ratio of 11.71, a quick ratio of 11.67 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $1.72 and a 200 day simple moving average of $2.25. The firm has a market cap of $2.70 billion, a PE ratio of -1.08 and a beta of 0.91. Ginkgo Bioworks has a 12-month low of $1.29 and a 12-month high of $4.91.

Insider Activity

In other news, major shareholder Barry Canton sold 103,392 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $1.73, for a total transaction of $178,868.16. Following the completion of the transaction, the insider now owns 19,809,357 shares of the company’s stock, valued at $34,270,187.61. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Jason R. Kelly sold 100,909 shares of Ginkgo Bioworks stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $1.69, for a total transaction of $170,536.21. Following the sale, the insider now directly owns 19,708,432 shares in the company, valued at $33,307,250.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Barry Canton sold 103,392 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $1.73, for a total transaction of $178,868.16. Following the sale, the insider now owns 19,809,357 shares in the company, valued at $34,270,187.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,211,597 shares of company stock valued at $9,037,584. 17.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently modified their holdings of DNA. Phillips Financial Management LLC bought a new stake in Ginkgo Bioworks in the fourth quarter worth about $25,000. Private Advisor Group LLC bought a new stake in Ginkgo Bioworks in the fourth quarter worth about $25,000. Kestra Private Wealth Services LLC bought a new stake in Ginkgo Bioworks in the fourth quarter worth about $25,000. Creative Planning bought a new stake in Ginkgo Bioworks in the fourth quarter worth about $25,000. Finally, Silverlake Wealth Management LLC bought a new stake in Ginkgo Bioworks in the fourth quarter worth about $25,000. 61.83% of the stock is currently owned by institutional investors.

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.