Ginkgo Bioworks (NYSE:DNA) Sees Unusually-High Trading Volume Following Insider Buying Activity

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) shares saw an uptick in trading volume on Tuesday following insider buying activity. 22,986,456 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 19,469,955 shares.The stock last traded at $1.70 and had previously closed at $1.51.

Specifically, major shareholder Barry Canton sold 75,300 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $18,511,198.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Barry Canton sold 75,300 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $18,511,198.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Reshma P. Shetty sold 37,650 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $1.19, for a total transaction of $44,803.50. Following the sale, the insider now directly owns 13,616,994 shares of the company’s stock, valued at $16,204,222.86. The disclosure for this sale can be found here. Insiders sold 474,954 shares of company stock valued at $604,767 over the last three months. 17.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DNA has been the subject of a number of recent research reports. BTIG Research reduced their target price on shares of Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday, March 5th. Raymond James reduced their target price on shares of Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, March 3rd. Finally, William Blair downgraded shares of Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Ginkgo Bioworks has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Ginkgo Bioworks Trading Up 0.7 %

The company has a 50-day simple moving average of $1.28 and a 200 day simple moving average of $1.62. The firm has a market cap of $3.17 billion, a PE ratio of -1.48 and a beta of 0.88.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.26. The business had revenue of $98.29 million for 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%. On average, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DNA. Itau Unibanco Holding S.A. acquired a new position in Ginkgo Bioworks in the 3rd quarter valued at $30,000. Avantax Advisory Services Inc. purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter worth $31,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ginkgo Bioworks during the 1st quarter worth $43,000. Claraphi Advisory Network LLC purchased a new position in Ginkgo Bioworks during the 3rd quarter valued at about $34,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Ginkgo Bioworks during the 2nd quarter valued at about $30,000. 61.83% of the stock is owned by institutional investors and hedge funds.

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.