Sargent Investment Group LLC Sells 110,346 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Sargent Investment Group LLC lowered its stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 50.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,345 shares of the company’s stock after selling 110,346 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in DNA. Norges Bank purchased a new stake in shares of Ginkgo Bioworks during the fourth quarter valued at about $24,967,000. Monaco Asset Management SAM purchased a new stake in Ginkgo Bioworks during the second quarter valued at approximately $3,276,000. Renaissance Technologies LLC acquired a new stake in Ginkgo Bioworks in the second quarter valued at approximately $2,128,000. Salem Investment Counselors Inc. grew its holdings in Ginkgo Bioworks by 110.6% in the first quarter. Salem Investment Counselors Inc. now owns 4,758,585 shares of the company’s stock worth $5,520,000 after purchasing an additional 2,499,425 shares during the last quarter. Finally, Lingotto Investment Management LLP increased its position in shares of Ginkgo Bioworks by 34.9% during the fourth quarter. Lingotto Investment Management LLP now owns 8,511,301 shares of the company’s stock worth $14,384,000 after purchasing an additional 2,200,000 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DNA. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating for the company in a research report on Tuesday, July 9th. BTIG Research raised their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $1.43.

Ginkgo Bioworks Trading Up 9.1 %

NYSE:DNA opened at $6.80 on Wednesday. The company has a market capitalization of $15.04 billion, a P/E ratio of -15.45 and a beta of 1.06. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $5.26 and a 12 month high of $82.80. The firm has a fifty day simple moving average of $2.73 and a 200-day simple moving average of $0.97.

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