National Bank of Canada FI Has $51,000 Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)
National Bank of Canada FI raised its position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Free Report) by 142.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,672 shares of the company’s stock after buying an additional 18,000 shares during the quarter. National Bank of Canada FI’s holdings in Ginkgo Bioworks were worth $51,000 at the end of the most recent reporting period. Several other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of Ginkgo Bioworks by 52.4% in the third quarter. Commonwealth Equity Services LLC now owns 369,061 shares of the company’s stock valued at $668,000 after acquiring an additional 126,924 shares in the last quarter. Raymond James & Associates grew its position in shares of Ginkgo Bioworks by 4.6% during the 3rd quarter. Raymond James & Associates now owns 193,589 shares of the company’s stock worth $350,000 after purchasing an additional 8,455 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Ginkgo Bioworks by 68.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 123,923 shares of the company’s stock worth $224,000 after purchasing an additional 50,374 shares during the period. Bank of New York Mellon Corp raised its position in shares of Ginkgo Bioworks by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 4,165,325 shares of the company’s stock valued at $7,539,000 after buying an additional 117,893 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ginkgo Bioworks by 36.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 184,761 shares of the company’s stock valued at $334,000 after buying an additional 49,827 shares during the period. Institutional investors own 78.63% of the company’s stock. Analyst Upgrades and Downgrades Several research firms have recently issued reports on DNA. TD Cowen reduced their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. William Blair downgraded shares of Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a research note on Friday, May 10th. Morgan Stanley dropped their target price on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. BTIG Research lowered shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ginkgo Bioworks has an average rating of “Hold” and an average price target of $1.90. View Our Latest Research Report on DNA Ginkgo Bioworks Trading Down 4.0 % Shares of Ginkgo Bioworks stock opened at $0.81 on Monday. The firm’s 50 day moving average is $0.99 and its 200 day moving average is $1.27. The firm has a market capitalization of $1.73 billion, a PE ratio of -1.83 and a beta of 1.42. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $0.72 and a 1 year high of $2.55. Ginkgo Bioworks (NYSE:DNA – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. The firm had revenue of $37.94 million for the quarter, compared to analysts’ expectations of $45.50 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current year. Insiders Place Their Bets In other news, insider Mark E. Dmytruk sold 47,806 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $0.84, for a total transaction of $40,157.04. Following the sale, the insider now directly owns 925,400 shares in the company, valued at $777,336. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ginkgo Bioworks news, Director Harry Sloan purchased 297,619 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the acquisition, the director now owns 718,540 shares in the company, valued at $653,871.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark E. Dmytruk sold 47,806 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.84, for a total value of $40,157.04. Following the completion of the sale, the insider now owns 925,400 shares of the company’s stock, valued at $777,336. The disclosure for this sale can be found here. Insiders own 15.05% of the company’s stock. Ginkgo Bioworks Company Profile (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.
Is Ginkgo Bioworks Holdings Stock a Buy?
Ginkgo Bioworks has been focusing on developing its artificial intelligence capabilities to enhance its cell programming platform. The company's results, however, have been underwhelming, with sales falling by more than 50% last quarter.
