Ginkgo Bioworks Holdings Inc. (NYSE:DNA) shares traded -4.15% lower at $1.85 on Wall Street last session.
In accordance with the data, 9 analysts cover Ginkgo Bioworks Holdings Inc. (NYSE:DNA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $1.25, we find $3.20. Given the previous closing price of $1.93, this indicates a potential upside of 65.8 percent. DNA stock price is now -10.00% away from the 50-day moving average and 9.28% away from the 200-day moving average. The market capitalization of the company currently stands at $3.72B.
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It has been rated a hold by 2 analysts and a buy by 4. Brokers who have rated the stock have averaged $4.02 as their price target over the next twelve months.
With the price target reduced from $3 to $1.25, Goldman Downgraded its rating from Neutral to Sell for Ginkgo Bioworks Holdings Inc. (NYSE: DNA).
In other news, Kelly Jason R, insider sold 100,000 shares of the company’s stock on Sep 14. The stock was sold for $199,500 at an average price of $2.00. Upon completion of the transaction, the insider now directly owns 6,894,680 shares in the company, valued at $12.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 14, Shetty Reshma P. sold 37,650 shares of the business’s stock. A total of $75,149 was realized by selling the stock at an average price of $2.00. This leaves the insider owning 12,901,644 shares of the company worth $23.87 million. Insiders disposed of 61,268,254 shares of company stock worth roughly $113.35 million over the past 1 year. A total of 5.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DNA stock. A new stake in Ginkgo Bioworks Holdings Inc. shares was purchased by NORGES BANK during the first quarter worth $14,566,000. MILLENNIUM MANAGEMENT LLC invested $13,469,000 in shares of DNA during the first quarter. In the first quarter, LINGOTTO INVESTMENT MANAGEMENT LLP acquired a new stake in Ginkgo Bioworks Holdings Inc. valued at approximately $11,676,000. NORDEA INVESTMENT MANAGEMENT AB acquired a new stake in DNA for approximately $6,417,000. COASTAL BRIDGE ADVISORS, LLC purchased a new stake in DNA valued at around $666,000 in the second quarter. In total, there are 409 active investors with 88.00% ownership of the company’s stock.
Ginkgo Bioworks Holdings Inc. (NYSE: DNA) opened at $1.9200 on Monday. During the past 12 months, Ginkgo Bioworks Holdings Inc. has had a low of $1.12 and a high of $3.52. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.50, and a quick ratio of 7.50. The fifty day moving average price for DNA is $2.0572 and a two-hundred day moving average price translates $1.6929 for the stock.
The latest earnings results from Ginkgo Bioworks Holdings Inc. (NYSE: DNA) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.09, missing analysts’ expectations of -$0.08 by -0.01. This compares to -$0.41 EPS in the same period last year. The company reported revenue of $80.57 million for the quarter, compared to $144.62 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -44.29 percent. For the current quarter, analysts expect DNA to generate $47.87M in revenue.
Ginkgo Bioworks Holdings Inc.(DNA) Company Profile
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. Ginkgo Bioworks Holdings, Inc. was founded in 2008 and is headquartered in Boston, Massachusetts.
