Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Down 5.3% in May

Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 274,440,000 shares, a decline of 5.3% from the April 30th total of 289,730,000 shares. Approximately 19.7% of the company’s stock are short sold. Based on an average daily volume of 38,130,000 shares, the days-to-cover ratio is currently 7.2 days.

Ginkgo Bioworks Stock Up 2.5 %

NYSE DNA opened at $0.54 on Tuesday. Ginkgo Bioworks has a 52 week low of $0.51 and a 52 week high of $2.55. The firm’s 50-day simple moving average is $0.89 and its two-hundred day simple moving average is $1.21.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $37.94 million for the quarter, compared to the consensus estimate of $45.50 million. Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts forecast that Ginkgo Bioworks will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, Director Harry Sloan purchased 297,619 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the purchase, the director now owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mark E. Dmytruk sold 51,169 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares in the company, valued at approximately $908,332.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry Sloan bought 297,619 shares of Ginkgo Bioworks stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $0.91 per share, with a total value of $270,833.29. Following the purchase, the director now owns 718,540 shares in the company, valued at $653,871.40. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 363,975 shares of company stock worth $313,834. 15.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Ginkgo Bioworks by 6.1% in the third quarter. Principal Financial Group Inc. now owns 130,334 shares of the company’s stock worth $236,000 after buying an additional 7,499 shares in the last quarter. Raymond James & Associates increased its position in shares of Ginkgo Bioworks by 4.6% in the third quarter. Raymond James & Associates now owns 193,589 shares of the company’s stock worth $350,000 after purchasing an additional 8,455 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Ginkgo Bioworks by 12.1% in the third quarter. Teacher Retirement System of Texas now owns 79,843 shares of the company’s stock worth $145,000 after purchasing an additional 8,615 shares during the last quarter. Cerity Partners LLC increased its position in shares of Ginkgo Bioworks by 5.3% in the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock worth $354,000 after purchasing an additional 10,472 shares during the last quarter. Finally, Smith Salley & Associates increased its position in shares of Ginkgo Bioworks by 100.0% in the fourth quarter. Smith Salley & Associates now owns 24,000 shares of the company’s stock worth $41,000 after purchasing an additional 12,000 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. TD Cowen cut their price target on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. BTIG Research downgraded shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, William Blair downgraded shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus price target of $1.90.

View Our Latest Stock Report on Ginkgo Bioworks

Ginkgo Bioworks Company Profile

(Get Free Report)

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.

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