Ginkgo Bioworks (NYSE:DNA) Sets New 1-Year Low at $1.19

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.19 and last traded at $1.32, with a volume of 5853375 shares. The stock had previously closed at $1.24.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DNA. BTIG Research cut their price objective on Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday, March 5th. Raymond James cut their price objective on Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, March 3rd. Finally, Berenberg Bank began coverage on Ginkgo Bioworks in a report on Monday, November 28th. They issued a “buy” rating and a $6.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.39.

Ginkgo Bioworks Price Performance

The company has a market capitalization of $2.62 billion, a PE ratio of -1.05 and a beta of 0.91. The firm has a fifty day moving average of $1.67 and a two-hundred day moving average of $2.17. The company has a current ratio of 11.71, a quick ratio of 11.67 and a debt-to-equity ratio of 0.04.

Insider Activity at Ginkgo Bioworks

In related news, insider Reshma P. Shetty sold 101,425 shares of the stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $1.60, for a total transaction of $162,280.00. Following the completion of the sale, the insider now directly owns 19,208,834 shares in the company, valued at approximately $30,734,134.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ginkgo Bioworks news, insider Jason R. Kelly sold 206,449 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $1.67, for a total value of $344,769.83. Following the completion of the sale, the insider now owns 18,802,367 shares in the company, valued at approximately $31,399,952.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Reshma P. Shetty sold 101,425 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $1.60, for a total value of $162,280.00. Following the completion of the sale, the insider now owns 19,208,834 shares of the company’s stock, valued at approximately $30,734,134.40. The disclosure for this sale can be found here. Insiders sold 4,512,653 shares of company stock worth $7,793,302 in the last ninety days. 17.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT raised its position in shares of Ginkgo Bioworks by 7.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 74,390 shares of the company’s stock worth $177,000 after acquiring an additional 5,035 shares in the last quarter. IFP Advisors Inc raised its position in shares of Ginkgo Bioworks by 22.3% in the 3rd quarter. IFP Advisors Inc now owns 81,295 shares of the company’s stock worth $991,000 after acquiring an additional 14,820 shares in the last quarter. Guild Investment Management Inc. raised its position in shares of Ginkgo Bioworks by 15.3% in the 3rd quarter. Guild Investment Management Inc. now owns 140,835 shares of the company’s stock worth $439,000 after acquiring an additional 18,715 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Ginkgo Bioworks by 307.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 335,700 shares of the company’s stock worth $1,047,000 after acquiring an additional 253,300 shares in the last quarter. Finally, AJ Wealth Strategies LLC raised its position in shares of Ginkgo Bioworks by 5.9% in the 3rd quarter. AJ Wealth Strategies LLC now owns 201,200 shares of the company’s stock worth $628,000 after acquiring an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 61.83% of the company’s stock.

Ginkgo Bioworks Company 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.