Ginkgo Bioworks (NYSE:DNA) Releases Earnings Results, Misses Expectations By $0.21 EPS

Ginkgo Bioworks (NYSE:DNA) issued its quarterly earnings results on Thursday. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.21), Zacks reports. Ginkgo Bioworks had a negative return on equity of 49.23% and a negative net margin of 188.00%.The business had revenue of $38.84 million during the quarter, compared to the consensus estimate of $38.95 million. Ginkgo Bioworks updated its FY 2025 guidance to EPS.

Ginkgo Bioworks Price Performance

Shares of NYSE:DNA traded down $2.31 during midday trading on Friday, hitting $9.00. The company had a trading volume of 2,955,726 shares, compared to its average volume of 1,305,470. Ginkgo Bioworks has a 12-month low of $5.00 and a 12-month high of $17.58. The company has a fifty day moving average of $12.60 and a two-hundred day moving average of $10.89. The company has a market cap of $532.50 million, a price-to-earnings ratio of -1.44 and a beta of 1.53.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Steven P. Coen sold 5,609 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $15.00, for a total transaction of $84,135.00. Following the sale, the insider owned 5,503 shares in the company, valued at approximately $82,545. This trade represents a 50.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.72% of the stock is currently owned by insiders.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently modified their holdings of DNA. Sender Co & Partners Inc. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at $312,000. Engineers Gate Manager LP increased its stake in Ginkgo Bioworks by 44.0% in the 2nd quarter. Engineers Gate Manager LP now owns 39,263 shares of the company’s stock worth $442,000 after buying an additional 11,995 shares in the last quarter. California State Teachers Retirement System raised its holdings in Ginkgo Bioworks by 10.0% during the second quarter. California State Teachers Retirement System now owns 26,674 shares of the company’s stock valued at $300,000 after acquiring an additional 2,426 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Ginkgo Bioworks in the second quarter valued at about $240,000. Finally, American Century Companies Inc. lifted its position in shares of Ginkgo Bioworks by 73.9% in the second quarter. American Century Companies Inc. now owns 57,865 shares of the company’s stock valued at $651,000 after acquiring an additional 24,586 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DNA has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, October 8th. BTIG Research upped their price target on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, August 25th. Cowen restated a “buy” rating on shares of Ginkgo Bioworks in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.00.

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.