Dark Forest Capital Management LP Purchases Shares of 67,013 Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Dark Forest Capital Management LP purchased a new stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 67,013 shares of the company’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DNA. Envestnet Asset Management Inc. acquired a new stake in Ginkgo Bioworks in the 1st quarter valued at $211,000. ProShare Advisors LLC acquired a new stake in Ginkgo Bioworks in the 1st quarter valued at $284,000. JPMorgan Chase & Co. increased its stake in shares of Ginkgo Bioworks by 125.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company’s stock worth $10,865,000 after purchasing an additional 1,498,987 shares during the last quarter. Raymond James & Associates increased its stake in shares of Ginkgo Bioworks by 299.5% during the 1st quarter. Raymond James & Associates now owns 88,918 shares of the company’s stock worth $358,000 after purchasing an additional 66,660 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Ginkgo Bioworks by 115.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company’s stock worth $105,000 after purchasing an additional 13,957 shares during the last quarter. 56.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Jason R. Kelly sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $1.95, for a total value of $195,000.00. Following the completion of the sale, the insider now owns 9,594,680 shares of the company’s stock, valued at approximately $18,709,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ginkgo Bioworks news, insider Jason R. Kelly sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $1.95, for a total value of $195,000.00. Following the completion of the sale, the insider now owns 9,594,680 shares of the company’s stock, valued at approximately $18,709,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Dmytruk sold 41,417 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $2.23, for a total transaction of $92,359.91. Following the completion of the sale, the insider now directly owns 543,585 shares of the company’s stock, valued at approximately $1,212,194.55. The disclosure for this sale can be found here. Insiders sold 1,332,877 shares of company stock valued at $2,651,573 in the last quarter. Company insiders own 15.05% of the company’s stock.

Ginkgo Bioworks Trading Down 5.6 %

Shares of DNA opened at $2.12 on Friday. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $1.12 and a 52 week high of $3.52. The firm’s 50-day simple moving average is $2.04 and its 200 day simple moving average is $1.65.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Ginkgo Bioworks had a negative net margin of 375.48% and a negative return on equity of 66.58%. The business had revenue of $80.57 million for the quarter, compared to analyst estimates of $70.41 million. On average, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.00 to $1.25 in a research note on Friday, June 2nd. Raymond James lowered their price objective on shares of Ginkgo Bioworks from $5.00 to $3.50 and set an “outperform” rating on the stock in a research note on Thursday, August 31st. Finally, William Blair lowered shares of Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and a consensus target price of $3.75.

Ginkgo Bioworks Company Profile

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.