Ginkgo Bioworks (NYSE:DNA) Shares Gap Up to $0.28 (2024)

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $0.28, but opened at $0.29. Ginkgo Bioworks shares last traded at $0.29, with a volume of 2,576,757 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on DNA. The Goldman Sachs Group lowered their price objective on shares of Ginkgo Bioworks from $0.80 to $0.30 and set a "sell" rating on the stock in a research report on Tuesday, July 9th. William Blair lowered shares of Ginkgo Bioworks from a "market perform" rating to an "underperform" rating in a report on Friday, May 10th. Morgan Stanley reduced their target price on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 15th. Finally, BTIG Research reduced their target price on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a "sell" rating on the stock in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Ginkgo Bioworks presently has a consensus rating of "Hold" and an average price target of $1.40.

Check Out Our Latest Report on DNA

Ginkgo Bioworks Stock Performance

The company's fifty day moving average is $0.48 and its 200 day moving average is $0.93. The company has a market cap of $619.16 million, a P/E ratio of -0.64 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). The business had revenue of $37.94 million for the quarter, compared to analyst estimates of $45.50 million. Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. During the same quarter last year, the firm earned ($0.08) EPS. Analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In related news, Director Harry Sloan bought 297,619 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $0.91 per share, with a total value of $270,833.29. Following the purchase, the director now owns 718,540 shares of the company's stock, valued at approximately $653,871.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ginkgo Bioworks news, Director Harry Sloan purchased 297,619 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $0.91 per share, with a total value of $270,833.29. Following the transaction, the director now directly owns 718,540 shares in the company, valued at approximately $653,871.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $0.83, for a total transaction of $219,950.00. Following the transaction, the director now directly owns 5,515,364 shares of the company's stock, valued at $4,577,752.12. The disclosure for this sale can be found here. Insiders have sold a total of 339,766 shares of company stock valued at $271,961 in the last quarter. Insiders own 15.05% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. raised its holdings in Ginkgo Bioworks by 110.6% in the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company's stock worth $5,520,000 after buying an additional 2,499,425 shares during the last quarter. Norges Bank purchased a new position in Ginkgo Bioworks in the fourth quarter worth about $24,967,000. Vanguard Group Inc. raised its holdings in Ginkgo Bioworks by 3.1% in the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company's stock worth $239,494,000 after buying an additional 4,016,221 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in Ginkgo Bioworks by 358.2% in the fourth quarter. Pinebridge Investments L.P. now owns 140,935 shares of the company's stock worth $238,000 after buying an additional 110,177 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Ginkgo Bioworks by 79.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 115,803 shares of the company's stock worth $210,000 after buying an additional 51,170 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Ginkgo Bioworks Company Profile

(Get Free Report)

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.

Further Reading

• Five stocks we like better than Ginkgo Bioworks
• 3 Ways To Invest In Coffee, Other Than Drinking It
• Intuitive Surgical Stock Outperforms Market: Highs on the Horizon
• Best ESG Stocks: 11 Best Stocks for ESG Investing
• Has This Leading Tech Stock Halted the AI Surge?
• How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
• Revolutionary Battery Stock Gains Momentum with 3D Silicon-Anodes

Should you invest $1,000 in Ginkgo Bioworks right now?

Before you consider Ginkgo Bioworks, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ginkgo Bioworks wasn't on the list.

While Ginkgo Bioworks currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here