Ginkgo Bioworks (DNA) Set to Announce Quarterly Earnings on Thursday

Ginkgo Bioworks (NYSE:DNA) will announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Ginkgo Bioworks has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $34.76 million for the quarter, compared to the consensus estimate of $40.37 million. Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. Ginkgo Bioworks’s revenue was down 64.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, analysts expect Ginkgo Bioworks to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ginkgo Bioworks Trading Down 4.7 %

NYSE DNA opened at $0.94 on Wednesday. The stock has a market cap of $2.03 billion, a PE ratio of -2.00 and a beta of 1.42. Ginkgo Bioworks has a 12 month low of $0.74 and a 12 month high of $2.55. The company’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. TD Cowen cut their price target on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.20.

Insider Buying and Selling

In other news, insider Mark E. Dmytruk sold 47,806 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value of $40,157.04. Following the transaction, the insider now directly owns 925,400 shares in the company, valued at approximately $777,336. 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 Mark E. Dmytruk sold 47,806 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total transaction of $40,157.04. Following the completion of the sale, the insider now directly owns 925,400 shares of the company’s stock, valued at $777,336. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark E. Dmytruk sold 51,169 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by insiders.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.