On August 30, 2023, it was reported that Russell Investments Group Ltd. significantly increased its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) during the first quarter of the year. This information was disclosed by the company in its most recent filing with the Securities and Exchange Commission (SEC). According to the filing, the institutional investor acquired an additional 1,038,052 shares of Ginkgo Bioworks stock, resulting in a remarkable increase of 3,386.5%. As a result of this transaction, Russell Investments Group Ltd. now owns a total of 1,068,705 shares of the company’s stock.
Based on these figures, it is estimated that Russell Investments Group Ltd.’s ownership corresponds to approximately 0.05% of Ginkgo Bioworks’ total worth. The value of their holdings is currently estimated at $1,421,000 as of their most recent filing with the SEC.
Ginkgo Bioworks Holdings specializes in developing a platform for cell programming along with its subsidiaries. Utilizing this platform allows for advanced cell manipulation to enable biological production across various industries such as specialty chemicals, agriculture, food production and processing, consumer products, and pharmaceuticals.
The company’s groundbreaking platform is focused on programming cells to facilitate the biological production of products ranging from novel therapeutics to food ingredients and even petroleum-derived chemicals. By harnessing the power of biology and utilizing innovative cellular programming techniques,Ginkgo Bioworks aims to provide sustainable solutions and new possibilities for several end markets.
With Russell Investments Group Ltd.’s significant increase in share ownership in Ginkgo Bioworks Holdings during the first quarter of this year,judicious investors may view this move as a testament to Ginkgo Bioworks’ future growth potential and promising business activities within these key sectors.
This information provides valuable insights into the financial landscape surrounding Ginkgo Bioworks Holdings, Inc., and offers a potential indicator of investors’ confidence in the organization’s prospects. As with any investment, it is important to conduct thorough research and analysis before making decisions based on such information.
Ginkgo Bioworks Holdings, Inc.
DNA
Neutral
Updated on: 07/12/2023
Financial Health
Weak
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Sell
Investor Interest and Insider Selling Impact Ginkgo Bioworks
August 30, 2023 – Ginkgo Bioworks Holdings, Inc., a company specializing in cell programming technology, has recently caught the attention of several large investors who have modified their holdings in the company. Notably, Cambridge Investment Research Advisors Inc. acquired a new stake in Ginkgo Bioworks during the first quarter, amounting to approximately $43,000. Similarly, Atria Wealth Solutions Inc. acquired a stake worth around $30,000 in the second quarter.
These recent investments have contributed to the diverse portfolio of institutional investors and hedge funds that collectively own 56.84% of the stock. Other firms such as Creative Planning and Silverlake Wealth Management LLC have also demonstrated their confidence in Ginkgo Bioworks by acquiring new positions in the first and fourth quarters respectively.
Although the company has garnered significant investor interest, it has not been immune to negative research reports. The Goldman Sachs Group downgraded its rating on Ginkgo Bioworks from “neutral” to “sell,” while also reducing its price target from $3.00 to $1.25 in a research note released on June 2nd. Another research note by William Blair further dampened investors’ interest by transitioning its rating from “outperform” to “market perform.”
Despite these mixed reviews from analysts, Ginkgo Bioworks maintains an average rating of “Hold” according to data from Bloomberg.com. The consensus target price for the company is estimated at $4.05.
Ginkgo Bioworks focuses on developing a platform for cell programming that enables biological production of various products such as therapeutics, food ingredients, and chemicals derived from petroleum. With applications spanning across specialty chemicals, agriculture, food production, consumer goods, and pharmaceuticals, Ginkgo Bioworks serves an array of industries.
In other news related to the company’s internal operations, insider Mark E. Dmytruk sold 40,511 shares of Ginkgo Bioworks stock on June 2nd. The transaction was recorded at an average price of $1.56, yielding a total value of $63,197.16. Following this sale, Dmytruk holds 417,028 shares valued at approximately $650,563.68.
Additionally, insider Reshma P. Shetty divested 37,650 shares of the company’s stock on June 7th for an average price of $1.79 per share, amounting to a total value of $67,393.50. Shetty now directly owns 13,428,754 shares in the company with an estimated value of around $24,037,469.66.
The recent sales made by these insiders contribute to a cumulative selling of 1,231,971 shares worth $2,382,522 over the past three months alone. Insiders now hold approximately 15.05% of Ginkgo Bioworks’ stock.
As of Wednesday’s trading session on the New York Stock Exchange (NYSE: DNA), Ginkgo Bioworks’ shares opened at $2.21. With a market capitalization standing at $4.64 billion and a PE ratio of -3.11, the company exhibits both potential and volatility within its industry sector. Its beta stands at 1.17 meaning it is relatively more volatile compared to market indices.
Despite experiencing fluctuations in its stock prices between its one-year low of $1.12 and one-year high of $3.52; Ginkgo Bioworks continues to attract investor attention due to its innovative platform for cell programming and potential growth opportunities within various industries it serves.
Disclaimer: This article provides general information only and does not constitute any financial advice or recommendation to invest in or buy/sell securities mentioned above.
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