Brokerages Set Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Price Target at $1.56

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has been given an average rating of “Reduce” by the six analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $1.56.

Several brokerages recently weighed in on DNA. BTIG Research decreased their target price on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a research note on Wednesday, June 26th. William Blair downgraded Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Finally, Morgan Stanley reduced their target price on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th.

Ginkgo Bioworks Stock Performance

NYSE:DNA opened at $0.34 on Thursday. Ginkgo Bioworks has a 1 year low of $0.26 and a 1 year high of $2.55. The stock has a market cap of $758.25 million, a price-to-earnings ratio of -0.78 and a beta of 1.14. The business has a fifty day moving average of $0.59 and a 200-day moving average of $1.02.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. The company had revenue of $37.94 million during the quarter, compared to analysts’ expectations of $45.50 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, equities research analysts predict that Ginkgo Bioworks will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total value 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 approximately $777,336. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Mark E. Dmytruk sold 47,806 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was 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 approximately $777,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry Sloan purchased 297,619 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $0.91 per share, with a total value of $270,833.29. Following the completion of the purchase, the director now directly owns 718,540 shares in the company, valued at $653,871.40. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 339,766 shares of company stock valued at $271,961. Corporate insiders own 15.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DNA. Axxcess Wealth Management LLC increased its holdings in shares of Ginkgo Bioworks by 64.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 160,788 shares of the company’s stock valued at $291,000 after acquiring an additional 62,855 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of Ginkgo Bioworks by 117.8% during the 3rd quarter. Crestwood Advisors Group LLC now owns 36,978 shares of the company’s stock valued at $67,000 after acquiring an additional 20,000 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at about $122,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Ginkgo Bioworks by 79.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company’s stock valued at $210,000 after acquiring an additional 51,170 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ginkgo Bioworks by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after acquiring an additional 4,016,221 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.