Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Expected to Post FY2024 Earnings of ($0.20) Per Share

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) – Investment analysts at William Blair issued their FY2024 earnings estimates for shares of Ginkgo Bioworks in a research note issued to investors on Thursday, March 2nd. William Blair analyst M. Larew anticipates that the company will post earnings per share of ($0.20) for the year. The consensus estimate for Ginkgo Bioworks’ current full-year earnings is ($0.34) per share.

A number of other equities analysts have also issued reports on the company. Raymond James reduced their target price on Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday. BTIG Research dropped their target price on Ginkgo Bioworks from $4.00 to $3.00 in a research report on Sunday. Finally, Berenberg Bank assumed coverage on shares of Ginkgo Bioworks in a research report on Monday, November 28th. They set a “buy” rating and a $6.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ginkgo Bioworks presently has an average rating of “Hold” and an average price target of $4.39.

Ginkgo Bioworks Trading Down 0.7 %

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 firm has a fifty day simple moving average of $1.72 and a 200-day simple moving average of $2.25. Ginkgo Bioworks has a 12 month low of $1.29 and a 12 month high of $4.91. The company has a market capitalization of $2.70 billion, a P/E ratio of -1.08 and a beta of 0.91.

Insiders Place Their Bets

In related news, insider Jason R. Kelly sold 258,748 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $1.73, for a total value of $447,634.04. Following the completion of the transaction, the insider now directly owns 14,947,040 shares in the company, valued at approximately $25,858,379.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jason R. Kelly sold 258,748 shares of the company’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $1.73, for a total value of $447,634.04. Following the completion of the transaction, the insider now owns 14,947,040 shares of the company’s stock, valued at approximately $25,858,379.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Reshma P. Shetty sold 152,094 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $1.49, for a total value of $226,620.06. Following the completion of the sale, the insider now owns 17,453,409 shares of the company’s stock, valued at $26,005,579.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,211,597 shares of company stock worth $9,037,584. Corporate insiders own 17.47% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNA. Private Advisor Group LLC purchased a new stake in Ginkgo Bioworks during the 4th quarter worth approximately $25,000. Phillips Financial Management LLC purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter worth approximately $25,000. Kestra Private Wealth Services LLC acquired a new position in Ginkgo Bioworks in the 4th quarter valued at $25,000. Creative Planning purchased a new position in Ginkgo Bioworks in the 4th quarter valued at $25,000. Finally, Silverlake Wealth Management LLC acquired a new stake in Ginkgo Bioworks during the 4th quarter worth $25,000. 61.83% of the stock is owned by hedge funds and other 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.