Ginkgo Bioworks (NYSE:DNA) Shares Climb 9.4% – What’s Next?

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shot up 9.4% on Thursday. The company traded as high as $9.09 and last traded at $9.3840. 185,929 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,186,359 shares. The stock had previously closed at $8.58.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DNA shares. Zacks Research upgraded shares of Ginkgo Bioworks to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer set a $5.00 price objective on Ginkgo Bioworks in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Finally, BTIG Research reiterated a “sell” rating and set a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday, September 4th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $6.33.

Ginkgo Bioworks Trading Up 3.3%

The stock’s 50 day moving average price is $7.64 and its 200 day moving average price is $7.97. The company has a market cap of $712.93 million, a price-to-earnings ratio of -2.11 and a beta of 1.76.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The business had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $24.05 million. On average, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, Director Christian Henry sold 5,000 shares of Ginkgo Bioworks stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total value of $35,400.00. Following the transaction, the director owned 19,310 shares in the company, valued at $136,714.80. This trade represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Strategic Advocates LLC grew its position in Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after acquiring an additional 3,899 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth about $50,000. Entropy Technologies LP purchased a new position in shares of Ginkgo Bioworks in the 1st quarter worth about $67,000. Boston Standard Wealth Management LLC acquired a new position in shares of Ginkgo Bioworks in the 1st quarter valued at about $97,000. Finally, AXQ Capital LP acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at about $100,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.