Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC cut its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 50.0% in the second quarter, HoldingsChannel reports. The firm owned 110,345 shares of the company’s stock after selling 110,346 shares during the period. Sargent Investment Group LLC’s holdings in Ginkgo Bioworks were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DNA. Norges Bank purchased a new position in shares of Ginkgo Bioworks during the 4th quarter valued at about $24,967,000. Monaco Asset Management SAM purchased a new stake in shares of Ginkgo Bioworks in the second quarter worth about $3,276,000. Renaissance Technologies LLC acquired a new stake in Ginkgo Bioworks during the second quarter worth about $2,128,000. Salem Investment Counselors Inc. raised its position in Ginkgo Bioworks by 110.6% during the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock valued at $5,520,000 after acquiring an additional 2,499,425 shares in the last quarter. Finally, Lingotto Investment Management LLP lifted its holdings in Ginkgo Bioworks by 34.9% in the fourth quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock valued at $14,384,000 after acquiring an additional 2,200,000 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DNA. BTIG Research raised their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. The Goldman Sachs Group dropped their price target on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.43.

Ginkgo Bioworks Price Performance

Ginkgo Bioworks stock opened at $6.80 on Wednesday. The stock has a market capitalization of $15.04 billion, a PE ratio of -15.45 and a beta of 1.06. The business has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $0.97. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.26 and a 12 month high of $82.80.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $56.21 million during the quarter, compared to analyst estimates of $41.46 million. Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current fiscal year.

About Ginkgo Bioworks

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.