Ginkgo Bioworks (NYSE:DNA) Sees Unusually-High Trading Volume on Insider Buying Activity

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) saw strong trading volume on Tuesday following insider buying activity. 22,986,456 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 19,469,955 shares.The stock last traded at $1.70 and had previously closed at $1.51.

Specifically, Director Shyam Sankar purchased 400,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $1.28 per share, with a total value of $512,000.00. Following the completion of the acquisition, the director now directly owns 1,731,874 shares in the company, valued at approximately $2,216,798.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Barry Canton sold 75,300 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $1.33, for a total value of $100,149.00. Following the completion of the transaction, the insider now directly owns 13,918,194 shares in the company, valued at $18,511,198.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shyam Sankar purchased 400,000 shares of the stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $1.28 per share, with a total value of $512,000.00. Following the transaction, the director now owns 1,731,874 shares of the company’s stock, valued at approximately $2,216,798.72. The disclosure for this purchase can be found here. Insiders sold a total of 474,954 shares of company stock valued at $604,767 over the last three months. 17.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James lowered their price target on Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, March 3rd. William Blair downgraded Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Finally, BTIG Research reduced their price target on Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Ginkgo Bioworks Trading Up 0.7 %

The firm has a 50-day moving average of $1.28 and a 200 day moving average of $1.62. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -1.48 and a beta of 0.88.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.26. The business had revenue of $98.29 million during the quarter, compared to analyst estimates of $84.41 million. Ginkgo Bioworks had a negative return on equity of 97.13% and a negative net margin of 440.87%. Equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Several large investors have recently modified their holdings of the stock. Phillips Financial Management LLC purchased a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at $25,000. Private Advisor Group LLC acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at about $25,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at about $25,000. Creative Planning acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at about $25,000. Finally, Silverlake Wealth Management LLC bought a new position in Ginkgo Bioworks during the fourth quarter valued at about $25,000. 61.83% of the stock is owned by institutional investors.

About Ginkgo Bioworks

(Get Rating)

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.