Ginkgo Bioworks (NYSE:DNA) Insider Jason Kelly Sells 45,682 Shares of Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) insider Jason Kelly sold 45,682 shares of the firm’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $10.14, for a total value of $463,215.48. Following the transaction, the insider directly owned 129,065 shares in the company, valued at $1,308,719.10. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Up 1.2%

Shares of NYSE DNA opened at $9.97 on Thursday. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $18.22. The firm’s 50-day simple moving average is $8.97 and its 200 day simple moving average is $8.62. The stock has a market cap of $671.65 million, a P/E ratio of -1.99 and a beta of 1.79.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.15. The business had revenue of $20.16 million during the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -3.20 earnings per share for the current fiscal year.

More Ginkgo Bioworks News

Here are the key news stories impacting Ginkgo Bioworks this week:

• Neutral Sentiment: Several insiders and major shareholders disclosed stock sales executed at an average price of $10.14. Jason Kelly sold 45,682 shares, while Reshma Shetty and Barry Canton each reported sales of 18,803 and 22,369 shares, respectively; Steven Coen sold 766 shares. Each filing stated that the transactions funded tax obligations related to vested equity awards, reducing their negative signaling. SEC insider transaction filing
• Negative Sentiment: The cluster of sales still represents reduced ownership by company insiders and a major shareholder, which can weigh on sentiment because investors often monitor insider transactions as a confidence indicator. SEC insider transaction filing
• Negative Sentiment: DNA recently closed lower even as the broader market gained, highlighting continued stock-specific pressure and investor concern around the company’s performance. Zacks DNA stock analysis

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Ginkgo Bioworks from $9.00 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Zacks Research upgraded shares of Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Oppenheimer set a $5.00 target price on Ginkgo Bioworks in a report on Wednesday, September 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $7.00.

Hedge Funds Weigh In On Ginkgo Bioworks

Several large investors have recently made changes to their positions in DNA. Balance Capital Partners L.P. bought a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth approximately $1,972,179. Dimensional Fund Advisors LP lifted its stake in Ginkgo Bioworks by 23.8% during the first quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company’s stock valued at $779,000 after purchasing an additional 24,434 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ginkgo Bioworks by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 123,959 shares of the company’s stock worth $760,000 after buying an additional 2,178 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Ginkgo Bioworks during the first quarter worth approximately $616,000. Finally, Inspire Investing LLC boosted its holdings in Ginkgo Bioworks by 46.4% during the first quarter. Inspire Investing LLC now owns 83,905 shares of the company’s stock worth $514,000 after buying an additional 26,612 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.

The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.