Treasurer of the State of North Carolina Increases Stock Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Treasurer of the State of North Carolina boosted its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,047 shares of the company’s stock after buying an additional 27,370 shares during the period. Treasurer of the State of North Carolina’s holdings in Ginkgo Bioworks were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DNA. Itau Unibanco Holding S.A. bought a new stake in shares of Ginkgo Bioworks during the 3rd quarter valued at $30,000. Avantax Advisory Services Inc. purchased a new stake in shares of Ginkgo Bioworks in the third quarter worth about $31,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $43,000. Claraphi Advisory Network LLC purchased a new position in Ginkgo Bioworks during the third quarter valued at approximately $34,000. Finally, Atria Wealth Solutions Inc. bought a new stake in Ginkgo Bioworks during the 2nd quarter worth approximately $30,000. Institutional investors own 61.83% of the company’s stock.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $1.28 on Monday. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $1.12 and a 52-week high of $4.91. The company has a fifty day moving average of $1.27 and a 200-day moving average of $1.63. The company has a market capitalization of $2.67 billion, a P/E ratio of -1.24 and a beta of 0.88.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.26. The firm had revenue of $98.29 million during the quarter, compared to analyst estimates of $84.41 million. Ginkgo Bioworks had a negative return on equity of 97.13% and a negative net margin of 440.87%. As a group, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on DNA. BTIG Research cut their price target on shares of Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday, March 5th. William Blair cut Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Finally, Raymond James lowered their price target on Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, March 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.67.

Insiders Place Their Bets

In other news, insider Reshma P. Shetty sold 37,650 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 13,993,504 shares in the company, valued at approximately $23,089,281.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ginkgo Bioworks news, major shareholder Barry Canton sold 75,300 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $1.33, for a total transaction of $100,149.00. Following the completion of the sale, the insider now directly owns 13,918,194 shares in the company, valued at $18,511,198.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Reshma P. Shetty sold 37,650 shares of Ginkgo Bioworks stock in a transaction dated Wednesday, February 22nd. The stock was 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 owns 13,993,504 shares in the company, valued at approximately $23,089,281.60. The disclosure for this sale can be found here. Insiders sold a total of 512,604 shares of company stock valued at $666,890 over the last quarter. 17.47% of the stock is owned by corporate insiders.

About Ginkgo Bioworks

(Get Rating)

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.