Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Consensus Recommendation of “Hold” by Brokerages

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.92.

Several research analysts have weighed in on the stock. Raymond James dropped their price objective on shares of Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. Berenberg Bank initiated coverage on shares of Ginkgo Bioworks in a report on Monday, November 28th. They set a “buy” rating and a $6.00 price target on the stock. BTIG Research decreased their price objective on shares of Ginkgo Bioworks to $4.00 in a report on Thursday, November 17th. Finally, Morgan Stanley initiated coverage on shares of Ginkgo Bioworks in a research report on Tuesday, October 4th. They set an “equal weight” rating and a $5.00 target price on the stock.

Insiders Place Their Bets

In related news, major shareholder Barry Canton sold 196,721 shares of the business’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $2.47, for a total transaction of $485,900.87. Following the completion of the transaction, the insider now owns 24,362,523 shares of the company’s stock, valued at approximately $60,175,431.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jason R. Kelly sold 246,449 shares of the business’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $1.61, for a total transaction of $396,782.89. Following the completion of the transaction, the insider now owns 16,734,634 shares of the company’s stock, valued at approximately $26,942,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Barry Canton sold 196,721 shares of the business’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $2.47, for a total value of $485,900.87. Following the transaction, the insider now directly owns 24,362,523 shares of the company’s stock, valued at approximately $60,175,431.81. The disclosure for this sale can be found here. Insiders sold 7,669,071 shares of company stock valued at $16,878,340 over the last quarter. Insiders own 17.47% of the company’s stock.

Hedge Funds Weigh In On Ginkgo Bioworks

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in shares of Ginkgo Bioworks by 22.4% during the 2nd quarter. Baillie Gifford & Co. now owns 205,327,786 shares of the company’s stock worth $488,680,000 after purchasing an additional 37,575,106 shares during the last quarter. ARK Investment Management LLC increased its stake in Ginkgo Bioworks by 45.2% during the third quarter. ARK Investment Management LLC now owns 126,818,856 shares of the company’s stock valued at $395,675,000 after acquiring an additional 39,460,799 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Ginkgo Bioworks by 41.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,981,948 shares of the company’s stock valued at $96,664,000 after acquiring an additional 9,123,775 shares during the period. Nikko Asset Management Americas Inc. increased its stake in Ginkgo Bioworks by 46.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 21,858,173 shares of the company’s stock valued at $52,678,000 after acquiring an additional 6,937,185 shares during the period. Finally, State Street Corp increased its stake in Ginkgo Bioworks by 6.3% during the third quarter. State Street Corp now owns 13,190,686 shares of the company’s stock valued at $41,155,000 after acquiring an additional 778,831 shares during the period. Institutional investors and hedge funds own 61.83% of the company’s stock.

Ginkgo Bioworks Stock Up 1.1 %

Ginkgo Bioworks stock opened at $1.86 on Tuesday. The firm has a market cap of $3.61 billion, a PE ratio of -0.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.67 and a current ratio of 11.71. The firm’s 50 day moving average price is $1.89 and its two-hundred day moving average price is $2.55. Ginkgo Bioworks has a twelve month low of $1.45 and a twelve month high of $6.42.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The company had revenue of $66.40 million during the quarter, compared to analyst estimates of $54.28 million. Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. On average, research analysts predict that Ginkgo Bioworks will post -1.41 EPS for the current fiscal year.

About Ginkgo Bioworks

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Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.