Ginkgo Bioworks Holdings, Inc. $DNA Stock: Prescott Group Capital Management L.L.C. Reduces Stake

Prescott Group Capital Management L.L.C. cut its stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 35.6% in the 3rd quarter, Holdings Channel reports. The fund owned 348,852 shares of the company’s stock after selling 192,993 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Ginkgo Bioworks were worth $4,476,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Balance Capital Partners L.P. purchased a new stake in Ginkgo Bioworks during the second quarter valued at about $1,972,179. Renaissance Technologies LLC bought a new stake in Ginkgo Bioworks during the first quarter worth about $616,000. Q Fund Management Hong Kong Ltd purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth about $505,000. Integrated Wealth Concepts LLC purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth about $50,000. Finally, Arizona State Retirement System purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter worth about $102,000. Institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Up 9.1%

Shares of NYSE DNA opened at $10.74 on Wednesday. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $18.22. The firm’s fifty day moving average is $9.68 and its 200 day moving average is $8.59.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The business had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. Equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.20 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Coen sold 2,403 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $15.00, for a total transaction of $36,045.00. Following the completion of the sale, the insider directly owned 49,448 shares in the company, valued at approximately $741,720. This represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Barry Canton sold 22,369 shares of the stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $10.14, for a total transaction of $226,821.66. Following the sale, the insider owned 453,951 shares of the company’s stock, valued at approximately $4,603,063.14. This represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 136,525 shares of company stock valued at $1,379,699. 12.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on DNA. Oppenheimer set a $5.00 price objective on Ginkgo Bioworks in a research report on Wednesday, September 9th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. BTIG Research restated a “sell” rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a research report on Friday, September 4th. TD Cowen increased their price target on shares of Ginkgo Bioworks from $9.00 to $11.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Reduce” and an average price target of $7.00.

Ginkgo Bioworks Profile

Ginkgo Bioworks is a biotechnology company that develops and deploys biological systems for commercial and industrial applications. Its platform is designed to help customers program cells to produce a wide range of products, including pharmaceuticals, food ingredients, agricultural inputs, specialty chemicals and materials. The company combines biological engineering, automation, software and data science to design, build and test engineered organisms.

Ginkgo provides services through its cell-programming platform and biological engineering foundry, supporting activities such as genetic design, strain construction, laboratory testing and process development.