Investors Purchase Large Volume of Call Options on Ginkgo Bioworks (NYSE:DNA)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw some unusual options trading activity on Monday. Traders bought 19,822 call options on the company. This is an increase of 387% compared to the typical daily volume of 4,068 call options.

Insider Activity

In related news, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares of the company’s stock, valued at $908,332.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Mark E. Dmytruk sold 39,569 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $1.21, for a total transaction of $47,878.49. Following the completion of the sale, the insider now directly owns 761,737 shares of the company’s stock, valued at $921,701.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the transaction, the insider now owns 865,079 shares of the company’s stock, valued at approximately $908,332.95. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock.

Institutional Trading of Ginkgo Bioworks

A number of large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its holdings in shares of Ginkgo Bioworks by 27.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 507,814 shares of the company’s stock worth $858,000 after acquiring an additional 109,927 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ginkgo Bioworks by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock worth $239,494,000 after purchasing an additional 4,016,221 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Ginkgo Bioworks by 79.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock valued at $210,000 after purchasing an additional 51,170 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Ginkgo Bioworks by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company’s stock valued at $7,435,000 after buying an additional 216,434 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Ginkgo Bioworks by 15.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after buying an additional 7,958,613 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DNA shares. TD Cowen cut their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group cut their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus price target of $2.20.

Ginkgo Bioworks Price Performance

Ginkgo Bioworks stock opened at $0.99 on Tuesday. The firm has a market capitalization of $2.13 billion, a P/E ratio of -2.11 and a beta of 1.36. Ginkgo Bioworks has a one year low of $0.74 and a one year high of $2.55. The business has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.33.

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

About Ginkgo Bioworks

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.