Ginkgo Bioworks (NYSE:DNA) Shares Gap Up – Time to Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.21, but opened at $9.90. Ginkgo Bioworks shares last traded at $9.6330, with a volume of 276,374 shares traded.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BTIG Research upped their price target on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, August 25th. Cowen restated a “buy” rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.00.

Ginkgo Bioworks Stock Up 2.9%

The firm has a market cap of $574.09 million, a PE ratio of -1.52 and a beta of 1.54. The firm’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $11.01.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.45) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.21). Ginkgo Bioworks had a negative net margin of 188.00% and a negative return on equity of 51.15%. The firm had revenue of $38.84 million for the quarter, compared to the consensus estimate of $38.95 million. As a group, analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Insider Activity at Ginkgo Bioworks

In other news, insider Steven P. Coen sold 5,609 shares of the company’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 completion of the transaction, the insider owned 5,503 shares of the company’s stock, valued at $82,545. This represents a 50.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Shay Capital LLC grew its holdings in Ginkgo Bioworks by 6.2% during the 2nd quarter. Shay Capital LLC now owns 19,382 shares of the company’s stock valued at $218,000 after buying an additional 1,124 shares in the last quarter. Savant Capital LLC boosted its position in shares of Ginkgo Bioworks by 7.9% during the third quarter. Savant Capital LLC now owns 17,509 shares of the company’s stock worth $255,000 after acquiring an additional 1,276 shares during the last quarter. US Bancorp DE boosted its position 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 worth $36,000 after acquiring an additional 1,911 shares during the last quarter. Quarry LP purchased a new position in Ginkgo Bioworks during the third quarter valued at $29,000. Finally, Verition Fund Management LLC increased its holdings in Ginkgo Bioworks by 2.4% in the 3rd quarter. Verition Fund Management LLC now owns 96,419 shares of the company’s stock valued at $1,406,000 after acquiring an additional 2,265 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

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.