Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 14,686 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) by 14.7% during the 4th quarter, Holdings Channel reports. The firm owned 114,767 shares of the company’s stock after purchasing an additional 14,686 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Ginkgo Bioworks were worth $181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in shares of Ginkgo Bioworks by 1.3% during the third quarter. Treasurer of the State of North Carolina now owns 351,677 shares of the company’s stock worth $1,097,000 after acquiring an additional 4,540 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Ginkgo Bioworks by 19.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 32,904 shares of the company’s stock worth $56,000 after acquiring an additional 5,259 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Ginkgo Bioworks by 11.4% during the third quarter. IHT Wealth Management LLC now owns 51,745 shares of the company’s stock worth $161,000 after acquiring an additional 5,275 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Ginkgo Bioworks by 104.6% during the third quarter. Van ECK Associates Corp now owns 12,740 shares of the company’s stock worth $39,000 after acquiring an additional 6,512 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in shares of Ginkgo Bioworks by 47.0% during the fourth quarter. AE Wealth Management LLC now owns 22,710 shares of the company’s stock worth $38,000 after acquiring an additional 7,260 shares in the last quarter. Hedge funds and other institutional investors own 61.83% of the company’s stock.

Insider Activity at Ginkgo Bioworks

In related news, insider Reshma P. Shetty sold 37,650 shares of Ginkgo Bioworks stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $1.79, for a total value of $67,393.50. Following the sale, the insider now owns 14,031,154 shares in the company, valued at $25,115,765.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Reshma P. Shetty sold 37,650 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $1.79, for a total transaction of $67,393.50. Following the sale, the insider now owns 14,031,154 shares in the company, valued at approximately $25,115,765.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark E. Dmytruk sold 29,762 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $1.31, for a total transaction of $38,988.22. Following the sale, the insider now owns 530,736 shares in the company, valued at approximately $695,264.16. The disclosure for this sale can be found here. Insiders have sold a total of 512,604 shares of company stock worth $704,540 over the last quarter. Corporate insiders own 17.47% of the company’s stock.

Analysts Set New Price Targets

DNA has been the topic of several research reports. BTIG Research decreased their price target on shares of Ginkgo Bioworks from $4.00 to $3.00 in a research note on Sunday, March 5th. Raymond James decreased 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 note on Friday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.39.

Ginkgo Bioworks Stock Performance

Shares of Ginkgo Bioworks stock opened at $1.37 on Wednesday. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $1.12 and a 52-week high of $4.91. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -1.06 and a beta of 0.88. The company’s 50 day moving average price is $1.28 and its 200-day moving average price is $1.71.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.26. The business had revenue of $98.29 million for the quarter, compared to analysts’ expectations of $84.41 million. Ginkgo Bioworks had a negative net margin of 440.63% and a negative return on equity of 92.27%. As a group, equities research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

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.