Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Free Report) gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $1.66, but opened at $1.62. Ginkgo Bioworks shares last traded at $1.65, with a volume of 1,674,080 shares.
Specifically, major shareholder Barry Canton sold 37,650 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $1.76, for a total transaction of $66,264.00. Following the sale, the insider now owns 12,751,054 shares in the company, valued at approximately $22,441,855.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Barry Canton sold 37,650 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $1.76, for a total value of $66,264.00. Following the completion of the sale, the insider now directly owns 12,751,054 shares in the company, valued at approximately $22,441,855.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 46,519 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $2.07, for a total value of $96,294.33. Following the transaction, the insider now directly owns 499,959 shares in the company, valued at approximately $1,034,915.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,233,120 shares of company stock valued at $22,704,036. 15.05% of the stock is owned by insiders.
Analyst Ratings Changes
Separately, Raymond James reduced their price objective on shares of Ginkgo Bioworks from $5.00 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 31st.
Ginkgo Bioworks Stock Up 1.2 %
The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -2.37 and a beta of 1.26. The company’s 50 day moving average is $1.86 and its 200 day moving average is $1.74.
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). Ginkgo Bioworks had a negative return on equity of 66.58% and a negative net margin of 375.48%. The firm had revenue of $80.57 million during the quarter, compared to the consensus estimate of $70.41 million. On average, analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.35 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in DNA. Y Intercept Hong Kong Ltd bought a new stake in shares of Ginkgo Bioworks during the 1st quarter worth $50,000. Green Alpha Advisors LLC bought a new position in shares of Ginkgo Bioworks in the first quarter worth about $120,000. 626 Financial LLC boosted its stake in shares of Ginkgo Bioworks by 52.7% in the 1st quarter. 626 Financial LLC now owns 70,762 shares of the company’s stock valued at $94,000 after purchasing an additional 24,415 shares in the last quarter. Powell Investment Advisors LLC bought a new stake in shares of Ginkgo Bioworks during the 1st quarter valued at approximately $57,000. Finally, ARK Investment Management LLC increased its position in Ginkgo Bioworks by 3.0% during the 2nd quarter. ARK Investment Management LLC now owns 169,749,527 shares of the company’s stock worth $315,734,000 after purchasing an additional 4,992,542 shares in the last quarter. 56.84% of the stock is currently owned by institutional investors and hedge funds.
About Ginkgo Bioworks
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.
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