Ginkgo Bioworks (NYSE:DNA) Announces Earnings Results

Ginkgo Bioworks (NYSE:DNAGet Free Report) released its quarterly earnings data on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08), Zacks reports. The company had revenue of $37.94 million during the quarter, compared to analysts’ expectations of $45.50 million. Ginkgo Bioworks had a negative return on equity of 52.85% and a negative net margin of 409.11%. During the same period last year, the firm posted ($0.08) earnings per share. Ginkgo Bioworks updated its FY 2024 guidance to EPS.

Ginkgo Bioworks Price Performance

NYSE:DNA traded down $0.16 during trading hours on Friday, reaching $0.76. 124,480,927 shares of the company were exchanged, compared to its average volume of 51,225,764. The company has a market capitalization of $1.64 billion, a P/E ratio of -1.73 and a beta of 1.42. The business has a 50 day moving average of $1.03 and a 200 day moving average of $1.29. Ginkgo Bioworks has a 1-year low of $0.72 and a 1-year high of $2.55.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. TD Cowen lowered their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday. Finally, The Goldman Sachs Group decreased their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Ginkgo Bioworks has a consensus rating of “Hold” and a consensus target price of $2.20.

View Our Latest Stock Report on DNA

Insider Activity

In related news, insider Mark E. Dmytruk sold 47,806 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the transaction, the insider now owns 925,400 shares of the company’s stock, valued at $777,336. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the transaction, the insider now directly owns 925,400 shares of the company’s stock, valued at $777,336. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now owns 865,079 shares of the company’s stock, valued at $908,332.95. The disclosure for this sale can be found here. Corporate insiders own 15.05% of the company’s stock.

About Ginkgo Bioworks

(Get Free Report)

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.

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Earnings History for Ginkgo Bioworks (NYSE:DNA)

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