Ginkgo Bioworks (NYSE:DNA) Major Shareholder Barry Canton Sells 124,727 Shares

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) major shareholder Barry Canton sold 124,727 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $6.43, for a total transaction of $801,994.61. Following the completion of the sale, the insider owned 436,422 shares in the company, valued at $2,806,193.46. The trade was a 22.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Barry Canton also recently made the following trade(s):

• On Thursday, April 9th, Barry Canton sold 13,116 shares of Ginkgo Bioworks stock. The shares were sold at an average price of $6.40, for a total transaction of $83,942.40.
• On Wednesday, April 8th, Barry Canton sold 13,155 shares of Ginkgo Bioworks stock. The shares were sold at an average price of $6.93, for a total transaction of $91,164.15.

Ginkgo Bioworks Stock Performance

Shares of DNA opened at $6.69 on Tuesday. The business’s 50-day moving average is $7.58 and its two-hundred day moving average is $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 fifty-two week low of $5.37 and a fifty-two week high of $17.58.

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

Hedge Funds Weigh In On Ginkgo Bioworks

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Ginkgo Bioworks in the third quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $29,000. Strategic Advocates LLC raised its stake in shares of Ginkgo Bioworks by 808.9% during the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after buying an additional 3,899 shares during the period. Strs Ohio purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at approximately $44,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Ginkgo Bioworks in the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TD Cowen lowered their price objective on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. BTIG Research cut their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a report on Thursday, March 12th. Wall Street Zen upgraded shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ginkgo Bioworks currently 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.