Insider Selling: Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Sells $277,350.03 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) insider Reshma P. Shetty sold 162,193 shares of the stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $1.71, for a total value of $277,350.03. Following the transaction, the insider now directly owns 16,142,867 shares in the company, valued at approximately $27,604,302.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ginkgo Bioworks Stock Performance

Shares of NYSE DNA opened at $1.66 on Monday. The company has a quick ratio of 11.67, a current ratio of 11.71 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $2.53. Ginkgo Bioworks Holdings, Inc. has a 52-week low of $1.45 and a 52-week high of $6.38. The stock has a market capitalization of $3.22 billion, a P/E ratio of -0.72 and a beta of 0.68.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last issued its earnings results on Monday, November 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Ginkgo Bioworks had a negative return on equity of 85.90% and a negative net margin of 668.49%. The business had revenue of $66.40 million during the quarter, compared to the consensus estimate of $54.28 million. As a group, sell-side analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Large investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in Ginkgo Bioworks in the third quarter worth about $30,000. Lake Street Financial LLC acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $31,000. Avantax Advisory Services Inc. acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $31,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ginkgo Bioworks in the first quarter valued at approximately $43,000. Finally, Claraphi Advisory Network LLC acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $34,000. Institutional investors own 61.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on DNA shares. Berenberg Bank initiated coverage on Ginkgo Bioworks in a research note on Monday, November 28th. They set a “buy” rating and a $6.00 price target on the stock. Morgan Stanley began coverage on Ginkgo Bioworks in a report on Tuesday, October 4th. They issued an “equal weight” rating and a $5.00 price target for the company. BTIG Research lowered their price target on Ginkgo Bioworks to $4.00 in a report on Thursday, November 17th. Finally, Raymond James lowered their price target on Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of “Hold” and an average target price of $5.92.

Ginkgo Bioworks Company Profile

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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.