Zurich, Switzerland – In a recent filing with the Securities and Exchange Commission (SEC), the Swiss National Bank revealed that it has raised its stake in Ginkgo Bioworks Holdings (DNA) by 38.9% during the fourth quarter. The bank now owns 1,981,100 shares of Ginkgo Bioworks, an increase of 554,900 shares from the previous quarter. The total value of the bank’s stake is estimated at $3,348,000, representing approximately 0.10% ownership of the company.
Ginkgo Bioworks, a leading biotechnology firm, has experienced a decline in its trading performance, with shares trading down by 3.0% at the opening of the market on Monday. The company’s stock had a 12-month low of $1.12 and a high of $4.91, with its current share price starting at $1.28. The fifty-day moving average stands at $1.27, while the 200-day moving average is $1.63.
DNA Stock Quarterly Earnings Analysis
In its most recent quarterly earnings report released on March 1st, Ginkgo Bioworks reported earnings per share (EPS) of ($0.04), surpassing analysts’ expectations of ($0.30) by $0.26. Despite this positive surprise, the company still faces challenges, such as a negative net margin of 440.87% and a negative return on equity of 97.13%. However, Ginkgo Bioworks achieved revenue of $98.29 million during the quarter, surpassing analysts predictions of $84.41 million.
Financial analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post a per-share loss of -0.29 for the current fiscal year. Despite the recent increase in stake by the Swiss National Bank, the company’s stock has faced a downward trend in trading performance, which may be attributed to various factors affecting the biotechnology industry.
Ginkgo Bioworks specializes in using genetic engineering to create microbes that can be used in various industries, including medicine, agriculture, and consumer goods. The company’s innovative approach to biological engineering has gained attention and investment from prominent organizations, including the Swiss National Bank. However, the volatile nature of the biotechnology sector has influenced the stock’s performance in recent times.
As Ginkgo Bioworks continues to navigate the challenges and opportunities in the biotechnology field, stakeholders and investors will be closely monitoring the company’s strategic moves and financial performance.
DNA Stock Analysis & Forecast
According to forecasts from five analysts, the average target price for Ginkgo Bioworks Holdings stock is projected to be USD 4.60 in the next 12 months. The consensus among analysts is a “Strong Buy” rating for Ginkgo Bioworks Holdings. However, Stock Target Advisor’s analysis of the stock indicates a bearish outlook, based on two positive signals and five negative signals. The most recent closing price for Ginkgo Bioworks Holdings was USD 1.51. Over the past week, the stock price has increased by +14.39%, while over the past month, it has risen by +15.27%. However, over the last year, the stock price has declined by -42.15%.
