Mark E. Dmytruk Sells 47,806 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the transaction, the insider now owns 925,400 shares in the company, valued at approximately $777,336. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ginkgo Bioworks Stock Down 4.7 %

Shares of Ginkgo Bioworks stock opened at $0.94 on Wednesday. The firm has a market cap of $2.03 billion, a PE ratio of -2.00 and a beta of 1.42. The company’s fifty day simple moving average is $1.06 and its two-hundred day simple moving average is $1.30. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $0.74 and a 12-month high of $2.55.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share (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 business had revenue of $34.76 million during the quarter, compared to the consensus estimate of $40.37 million. During the same period in the previous year, the business earned ($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, sell-side analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC increased its position in Ginkgo Bioworks by 9.0% during the 4th quarter. ARK Investment Management LLC now owns 198,606,619 shares of the company’s stock valued at $335,645,000 after purchasing an additional 16,414,434 shares during the period. Vanguard Group Inc. increased its position in shares of Ginkgo Bioworks by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 132,780,095 shares of the company’s stock valued at $224,398,000 after buying an additional 463,096 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Ginkgo Bioworks by 15.7% in the third 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 in the last quarter. Norges Bank purchased a new stake in Ginkgo Bioworks in the fourth quarter worth about $24,967,000. Finally, Lingotto Investment Management LLP boosted its position in Ginkgo Bioworks by 34.9% during the 4th quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock valued at $14,384,000 after acquiring an additional 2,200,000 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

DNA has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research note on Monday, January 22nd. TD Cowen reduced their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.20.

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.