Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) traded down 4.9% during trading on Monday following insider selling activity. The company traded as low as $1.20 and last traded at $1.21. 6,513,955 shares traded hands during trading, a decline of 68% from the average session volume of 20,652,377 shares. The stock had previously closed at $1.27.
Specifically, insider Reshma P. Shetty sold 37,650 shares of Ginkgo Bioworks stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $1.29, for a total value of $48,568.50. Following the transaction, the insider now owns 13,842,904 shares in the company, valued at $17,857,346.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Reshma P. Shetty sold 37,650 shares of the firm's stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $1.29, for a total value of $48,568.50. Following the completion of the transaction, the insider now owns 13,842,904 shares of the company's stock, valued at approximately $17,857,346.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 34,588 shares of the firm's stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $1.56, for a total transaction of $53,957.28. Following the completion of the transaction, the insider now directly owns 454,549 shares of the company's stock, valued at approximately $709,096.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,838,646 shares of company stock worth $6,635,151. 17.47% of the stock is owned by insiders.
Get Ginkgo Bioworks alerts:Analyst Ratings Changes
A number of brokerages have issued reports on DNA. BTIG Research decreased their target price on shares of Ginkgo Bioworks from $4.00 to $3.00 in a research note on Sunday, March 5th. Berenberg Bank began coverage on shares of Ginkgo Bioworks in a research note on Monday, November 28th. They set a "buy" rating and a $6.00 target price for the company. Finally, Raymond James decreased their target price on shares of Ginkgo Bioworks from $6.00 to $5.00 and set an "outperform" rating for the company in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ginkgo Bioworks currently has a consensus rating of "Hold" and a consensus target price of $4.39.
Ginkgo Bioworks Stock Performance
The firm's 50 day moving average is $1.60 and its 200-day moving average is $2.08. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -0.95 and a beta of 0.91.
Institutional Investors Weigh In On Ginkgo Bioworks
Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Ginkgo Bioworks by 22.3% in the 3rd quarter. IFP Advisors Inc now owns 81,295 shares of the company's stock valued at $991,000 after purchasing an additional 14,820 shares during the last quarter. Guild Investment Management Inc. raised its holdings in Ginkgo Bioworks by 15.3% in the 3rd quarter. Guild Investment Management Inc. now owns 140,835 shares of the company's stock worth $439,000 after acquiring an additional 18,715 shares during the period. Canada Pension Plan Investment Board raised its holdings in Ginkgo Bioworks by 307.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 335,700 shares of the company's stock worth $1,047,000 after acquiring an additional 253,300 shares during the period. AJ Wealth Strategies LLC raised its holdings in Ginkgo Bioworks by 5.9% in the 3rd quarter. AJ Wealth Strategies LLC now owns 201,200 shares of the company's stock worth $628,000 after acquiring an additional 11,200 shares during the period. Finally, Lake Street Financial LLC bought a new position in Ginkgo Bioworks in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 61.83% of the company's stock.
About Ginkgo Bioworks
(Get Rating)
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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