AE Wealth Management LLC Acquires New Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

AE Wealth Management LLC bought a new position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,450 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC raised its position in shares of Ginkgo Bioworks by 45.2% during the 3rd 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 in the last quarter. Baillie Gifford & Co. increased its stake in Ginkgo Bioworks by 22.4% during the second quarter. Baillie Gifford & Co. now owns 205,327,786 shares of the company’s stock valued at $488,680,000 after purchasing an additional 37,575,106 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth $52,022,000. State Street Corp lifted its position in shares of Ginkgo Bioworks by 210.3% in the 2nd quarter. State Street Corp now owns 12,411,855 shares of the company’s stock worth $29,540,000 after buying an additional 8,411,787 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of Ginkgo Bioworks by 46.5% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 21,858,173 shares of the company’s stock worth $52,678,000 after buying an additional 6,937,185 shares during the last quarter. Institutional investors and hedge funds own 61.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DNA. Berenberg Bank started coverage on Ginkgo Bioworks in a research note on Monday, November 28th. They issued a “buy” rating and a $6.00 target price on the stock. Raymond James cut their price target on Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Morgan Stanley started coverage on Ginkgo Bioworks in a report on Tuesday, October 4th. They issued an “equal weight” rating and a $5.00 price objective for the company. Finally, BTIG Research cut their target price on Ginkgo Bioworks to $4.00 in a research note on Thursday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.92.

Insider Activity

In related news, insider Mark E. Dmytruk sold 30,604 shares of Ginkgo Bioworks stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $2.65, for a total value of $81,100.60. Following the transaction, the insider now directly owns 384,074 shares in the company, valued at approximately $1,017,796.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Barry Canton sold 151,530 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $1.86, for a total value of $281,845.80. Following the completion of the transaction, the insider now owns 16,497,505 shares of the company’s stock, valued at approximately $30,685,359.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 30,604 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $2.65, for a total transaction of $81,100.60. Following the sale, the insider now directly owns 384,074 shares in the company, valued at $1,017,796.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,519,837 shares of company stock worth $16,214,213. Insiders own 17.47% of the company’s stock.

Ginkgo Bioworks Trading Down 8.7 %

Shares of Ginkgo Bioworks stock opened at $1.67 on Friday. The business has a fifty day simple moving average of $1.85 and a 200-day simple moving average of $2.54. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -0.73 and a beta of 0.68. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $6.38. The company has a quick ratio of 11.67, a current ratio of 11.71 and a debt-to-equity ratio of 0.04.

Ginkgo Bioworks (NYSE:DNAGet Rating) last posted 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). Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. The business had revenue of $66.40 million for the quarter, compared to the consensus estimate of $54.28 million. On average, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -1.41 EPS for the current fiscal year.

Ginkgo Bioworks Profile

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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.

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Institutional Ownership by Quarter for Ginkgo Bioworks (NYSE:DNA)

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