Reshma Shetty Sells 13,116 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

by · The Cerbat Gem

Ginkgo Bioworks Holdings, Inc. (NYSE:DNAGet Free Report) insider Reshma Shetty sold 13,116 shares of Ginkgo Bioworks stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $6.40, for a total transaction of $83,942.40. Following the sale, the insider owned 338,568 shares in the company, valued at $2,166,835.20. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Trading Up 0.4%

Shares of DNA stock opened at $6.46 on Friday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $5.37 and a twelve month high of $17.58. The company has a market capitalization of $399.76 million, a PE ratio of -1.14 and a beta of 1.56. The firm has a fifty day simple moving average of $7.63 and a 200-day simple moving average of $9.50.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.38. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. The company had revenue of $33.40 million during the quarter, compared to analysts’ expectations of $37.57 million. Equities research analysts predict that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current year.

Ginkgo Bioworks News Summary

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

  • Positive Sentiment: March short interest fell sharply — short interest totaled 6,146,646 shares as of March 31, down 23.2% from 8,004,118 on March 15; roughly 11.0% of the float is sold short and the days-to-cover is ~5.2. Reduced short exposure can remove a headwind and support the stock.
  • Negative Sentiment: Large insider sales by the CEO: Jason R. Kelly sold 97,015 shares on April 8 (avg $6.93) and 109,767 shares on April 9 (avg $6.40), totaling ~206,782 shares (~$1.37M) and materially reducing his holdings. The filings say the sales were to cover tax withholding on vested equity. Jason R. Kelly Form 4
  • Negative Sentiment: Other insiders/major holders also sold small blocks (Reshma P. Shetty and Barry Canton each sold ~13k shares on April 8–9 at similar prices). These rounds of sales were likewise disclosed as tax-withholding-related. Reshma’s filing: Reshma P. Shetty Form 4; Barry Canton’s filing: Barry Canton Form 4

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DNA. Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen dropped their target price on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. Finally, BTIG Research lowered their price objective on Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $8.50.

View Our Latest Stock Report on DNA

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Ginkgo Bioworks in the third quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new position in Ginkgo Bioworks during the 2nd quarter worth $29,000. Strategic Advocates LLC lifted its stake in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after buying an additional 3,899 shares during the last quarter. Strs Ohio acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter worth about $44,000. Finally, Daiwa Securities Group Inc. bought a new stake in Ginkgo Bioworks in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

(Get Free Report)

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

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