ARK Investment Management LLC recently announced the acquisition of new stake in Ginkgo Bioworks Holdings Inc (NYSE:DNA). The institutional investor has increased its shareholding in the Healthcare company by 7.33% to 182.19 million shares with purchase of 12.44 million shares. This fresh investment now brings its stake to 11.25% valued currently at $307.9 million. In addition, The Vanguard Group, Inc. raised its holdings by 3.8 million to 130.51 million shares. And BlackRock Fund Advisors has lifted its position by 6.99% or 4.31 million shares – to 65.9 million shares.
With over 23.53 million Ginkgo Bioworks Holdings Inc (DNA) shares trading Friday and a closing price of $1.30 on the day, the dollar volume was approximately $30.59 million. The shares have shown a negative half year performance of -36.27% and its price on 01/12/24 lost nearly -2.99%. Currently, there are 1.34B common shares owned by the public and among those 1.32B shares have been available to trade.
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Insiders at the company have transacted a total of 336 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 1,627,648 shares. Insider sales of the common stock occurred on 296 occasions, with total insider shares sold totaling 21,885,056 shares.
The top 3 mutual fund holders in Ginkgo Bioworks Holdings Inc are ARK Innovation ETF, Scottish Mortgage Investment Trus, and ARK Genomic Revolution ETF. ARK Innovation ETF owns 125.82 million shares of the company’s stock, all valued at over $212.63 million. The company sold -0.58 million shares recently to bring their total holdings to about 7.77% of the shares outstanding. ARK Genomic Revolution ETF sold 85274.0 shares to bring its total holdings to over 57.98 million shares at a value of $97.99 million. ARK Genomic Revolution ETF now owns shares totaling to 3.58% of the shares outstanding.
Shares of Ginkgo Bioworks Holdings Inc (NYSE: DNA) opened at $1.36, up $0.02 from a prior closing price of $1.34. The company’s stock has a 5-day price change of -15.03% and -19.75% over the past three months. DNA shares are trading -23.08% year to date (YTD), with the 12-month market performance down to -23.53% lower. It has a 12-month low price of $1.12 and touched a high of $2.55 over the same period. DNA has an average intraday trading volume of 20.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.70%, -13.06%, and -21.51% respectively.
Institutional ownership of Ginkgo Bioworks Holdings Inc (NYSE: DNA) shares accounts for 57.68% of the company’s 1.34B shares outstanding. Mutual fund holders own 30.75%, while other institutional holders and individual stakeholders account for 40.42% and 2.56% respectively.
It has a market capitalization of $2.60B and a beta (3y monthly) value of 1.33. The earnings-per-share (ttm) stands at -$0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.22% over the week and 7.99% over the month.
Analysts forecast that Ginkgo Bioworks Holdings Inc (DNA) will achieve an EPS of -$0.1 for the current quarter, -$0.08 for the next quarter and -$0.3 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 64.80%, and 32.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Ginkgo Bioworks Holdings Inc (DNA) as a “Hold” at a consensus score of 3.14. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the DNA, a number of firms have released research notes about the stock. Raymond James stated their Mkt Perform rating for the stock in a research note on November 14, 2023, with the firm’s price target at $3.50-$2.50.
