Ginkgo Bioworks (NYSE:DNA) Reaches New 1-Year Low at $0.41

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $0.41 and last traded at $0.42, with a volume of 1062834 shares trading hands. The stock had previously closed at $0.43.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen cut their price objective on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Morgan Stanley cut their price target on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. BTIG Research cut shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, William Blair cut shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research report on Friday, May 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.90.

Get Our Latest Stock Analysis on Ginkgo Bioworks

Ginkgo Bioworks Stock Down 0.3 %

The business’s 50 day moving average is $0.77 and its 200-day moving average is $1.14. The firm has a market capitalization of $944.88 million, a P/E ratio of -0.97 and a beta of 1.24.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $37.94 million during the quarter, compared to the consensus estimate of $45.50 million. Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. During the same period in the prior year, the business earned ($0.08) earnings per share. Research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Ginkgo Bioworks

In related news, insider Mark E. Dmytruk sold 51,169 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $1.05, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry Sloan purchased 297,619 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $0.91 per share, for a total transaction of $270,833.29. Following the transaction, the director now directly owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 377,415 shares of company stock worth $321,226. Corporate insiders own 15.05% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new position in shares of Ginkgo Bioworks during the fourth quarter valued at about $25,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter worth about $37,000. Paloma Partners Management Co acquired a new stake in shares of Ginkgo Bioworks in the 1st quarter worth about $28,000. Smith Salley & Associates raised its holdings 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 worth $41,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Ginkgo Bioworks in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

(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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