Ginkgo Bioworks (NYSE:DNA) Insider Reshma Shetty Sells 124,727 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Reshma Shetty sold 124,727 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $6.43, for a total value of $801,994.61. Following the completion of the transaction, the insider directly owned 436,422 shares in the company, valued at approximately $2,806,193.46. The trade was a 22.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Trading Up 3.7%

DNA stock opened at $6.69 on Tuesday. The firm has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $9.45. The company has a market capitalization of $414.00 million, a P/E ratio of -1.18 and a beta of 1.56. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.37 and a twelve month high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.38. The firm had revenue of $33.40 million for the quarter, compared to the consensus estimate of $37.57 million. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. On average, research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH lifted its stake in Ginkgo Bioworks by 10.0% in the third quarter. Erste Asset Management GmbH now owns 2,200,000 shares of the company’s stock valued at $32,076,000 after buying an additional 200,000 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Ginkgo Bioworks in the 3rd quarter valued at about $2,802,000. SPX Gestao de Recursos Ltda acquired a new position in Ginkgo Bioworks during the 3rd quarter valued at about $1,458,000. Savant Capital LLC grew its position in Ginkgo Bioworks by 7.9% in the 3rd quarter. Savant Capital LLC now owns 17,509 shares of the company’s stock worth $255,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in Ginkgo Bioworks in the 4th quarter worth about $166,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen reduced their target price on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday. BTIG Research lowered their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.50.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.