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

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

DNA has been the subject of a number of other reports. BTIG Research decreased their target price on Ginkgo Bioworks from $4.00 to $3.00 in a research report on Sunday. Berenberg Bank started coverage on shares of Ginkgo Bioworks in a report on Monday, November 28th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Raymond James lowered their price target on shares of Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ginkgo Bioworks currently has an average rating of “Hold” and a consensus target price of $4.39.

Ginkgo Bioworks Trading Down 0.7 %

Shares of DNA stock opened at $1.39 on Monday. The company has a quick ratio of 11.67, a current ratio of 11.71 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.70 billion, a P/E ratio of -1.08 and a beta of 0.91. The company has a 50 day moving average of $1.72 and a 200-day moving average of $2.25. Ginkgo Bioworks has a 12-month low of $1.29 and a 12-month high of $4.91.

Institutional Trading of Ginkgo Bioworks

Hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC raised its stake in shares of Ginkgo Bioworks by 4.5% during the fourth quarter. Voya Investment Management LLC now owns 159,982 shares of the company’s stock worth $270,000 after acquiring an additional 6,959 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Ginkgo Bioworks in the 4th quarter worth $118,000. Alliancebernstein L.P. lifted its stake in Ginkgo Bioworks by 18.6% in the fourth quarter. Alliancebernstein L.P. now owns 235,956 shares of the company’s stock worth $399,000 after purchasing an additional 37,012 shares during the last quarter. Silverlake Wealth Management LLC purchased a new stake in Ginkgo Bioworks during the fourth quarter valued at about $25,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Ginkgo Bioworks by 8.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 447,633 shares of the company’s stock valued at $756,000 after buying an additional 35,787 shares during the last quarter. Institutional investors own 61.83% of the company’s stock.

Insider Activity

In other news, major shareholder Barry Canton sold 97,204 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $1.79, for a total transaction of $173,995.16. Following the completion of the transaction, the insider now directly owns 19,611,244 shares in the company, valued at approximately $35,104,126.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Reshma P. Shetty sold 37,650 shares of the company’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $1.65, for a total value of $62,122.50. Following the completion of the transaction, the insider now directly owns 13,993,504 shares in the company, valued at $23,089,281.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Barry Canton sold 97,204 shares of Ginkgo Bioworks stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $1.79, for a total value of $173,995.16. Following the sale, the insider now directly owns 19,611,244 shares of the company’s stock, valued at approximately $35,104,126.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,211,597 shares of company stock worth $9,037,584. 17.47% of the stock is owned by company insiders.

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.