Ginkgo Bioworks (NYSE:DNA) Hits New 52-Week Low at $0.79

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) hit a new 52-week low on Thursday . The stock traded as low as $0.79 and last traded at $0.80, with a volume of 10854269 shares traded. The stock had previously closed at $0.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DNA shares. The Goldman Sachs Group reduced their target price on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. TD Cowen reduced their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ginkgo Bioworks currently has an average rating of “Hold” and an average price target of $2.20.

Ginkgo Bioworks Stock Performance

The company has a 50-day moving average of $1.14 and a 200 day moving average of $1.35.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The firm had revenue of $34.76 million for the quarter, compared to analysts’ expectations of $40.37 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 64.6% compared to the same quarter last year. As a group, analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total value of $47,878.49. Following the completion of the sale, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the sale, the insider now directly owns 865,079 shares in the company, valued at approximately $908,332.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark E. Dmytruk sold 39,569 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the completion of the sale, the insider now owns 761,737 shares of the company’s stock, valued at $921,701.77. The disclosure for this sale can be found here. 15.05% of the stock is owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at $25,000. Clarius Group LLC acquired a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at $32,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at $37,000. Stratos Wealth Partners LTD. acquired a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at $43,000. Finally, Smith Salley & Associates lifted its stake in shares of Ginkgo Bioworks by 100.0% in the 4th quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock valued at $41,000 after purchasing an additional 12,000 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.