Ginkgo Bioworks (NYSE:DNA) Stock Price Down 4.1% on Insider Selling

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares traded down 4.1% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $15.37 and last traded at $15.48. 384,260 shares changed hands during trading, a decline of 75% from the average session volume of 1,549,865 shares. The stock had previously closed at $16.14.

Specifically, insider Steven P. Coen sold 5,609 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $15.00, for a total value of $84,135.00. Following the sale, the insider owned 5,503 shares of the company’s stock, valued at $82,545. This trade represents a 50.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DNA. Cowen reissued a “buy” rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. BTIG Research raised their price objective on Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a report on Monday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Saturday, September 27th. Finally, Wall Street Zen raised Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $9.00.

Ginkgo Bioworks Trading Down 0.4%

The stock has a 50 day simple moving average of $12.40 and a 200 day simple moving average of $9.88. The firm has a market capitalization of $876.46 million, a PE ratio of -2.53 and a beta of 1.54.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.34. The business had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $41.60 million. Ginkgo Bioworks had a negative return on equity of 43.25% and a negative net margin of 136.56%. Ginkgo Bioworks has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Ginkgo Bioworks in the 2nd quarter worth approximately $29,000. Ameritas Investment Partners Inc. purchased a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $45,000. US Bancorp DE increased its stake in shares of Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company’s stock valued at $36,000 after buying an additional 1,911 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $71,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Ginkgo Bioworks during the second quarter valued at approximately $99,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.