Neuberger Berman Group LLC has recently reported a 32.1% increase in its position shares of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) during the fourth quarter of the financial year. In its most recent disclosure with the Securities and Exchange Commission (SEC), Neuberger Berman Group LLC claimed that it now owns 2,321,449 shares of Ginkgo Bioworks Holdings, Inc.’s stock after purchasing an additional 564,028 shares during that period.
Ginkgo Bioworks Holdings, Inc., along with its subsidiaries, has developed a cell programming platform designed to program cells that enable biological production of products such as novel therapeutics and food ingredients derived from petroleum and chemicals. The company serves various markets such as agriculture, specialty chemicals, pharmaceuticals and consumer products.
In other news related to Ginkgo Bioworks Holdings Inc., insiders report that major shareholder Barry Canton has recently sold 75,300 shares of the company’s stock at $1.33 per share, making a total transaction valued at $100,149.00 dollars. Following the sale of his shares held in the company’s stock after Tuesday’s transaction on March 14th this year; Mr Canton maintains direct ownership in over 13 million shares within Ginkgo Bioworks.
Furthermore, Shyam Sankar – a director within the company – acquired 400k more shares for May at an average price of $1.28 per share for a total transaction value of $512k dollars following another SEC filing disclosure; he now holds around 1.7 million shares in Ginkgo.
In recent weeks or months past there were other reports on insiders selling their shares within or acquiring them directly from this compelling biotech IP unlocking story; overall they have sold almost 900k shares valuing around roughly about $1m dollars with insider holdings representing about 15% of Ginkgo’s total publicly available stock.
The future looks exciting for Ginkgo, as therapeutic discovery continues to gain large infrastructure and R&D investments tailwinds as COVID-19 altered the landscape of healthcare research towards new treatments, coupled with the vast marketplaces within its served areas; this duly reflects in Neuberger Berman Group’s recent position increase. For potential investors, a thorough dive into global bioengineering solutions is definitely worth exploring this company’s innovative work.
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Investor Interest in Ginkgo Bioworks Creates Ripples of Change
In recent months, Ginkgo Bioworks has experienced significant changes in its shareholder base. The company is a biotechnology firm focused on designing custom microbes for various applications, including producing fragrances, flavors, and pharmaceuticals. According to recent reports, several institutional investors have increased their holdings in Ginkgo Bioworks, including Geode Capital Management LLC, American Century Companies Inc., GSA Capital Partners LLP, JPMorgan Chase & Co., and the Teacher Retirement System of Texas. All of these firms made moves during the fourth quarter of 2022.
Specifically, Geode Capital Management LLC increased its stake in Ginkgo Bioworks by 16.9%, bringing its total share count to 11,775,054. Meanwhile, American Century Companies Inc. boosted its holdings by an impressive 91.5%, while GSA Capital Partners LLP upped its ownership by 11.4%. And JPMorgan Chase & Co.’s holdings surged by over 60% during the period under review.
With all these activities underway within the investor base of this prestigious biotechnology superstar one cannot wonder what it all means regarding beyond just numbers? Well from assessment various analyst opinions have been vocal about this matter at different time periods however looking through most authoritative ones I found that William Blair recently downgraded Ginkgo Bioworks’ stock rating from “outperform” to “market perform.” Additionally The Goldman Sachs Group also lowered their rating from a “neutral” rating to a “sell”, lowering their price target to $1.25 according to a recent report they released on June 2nd.
Despite all of this ruckus going on with analysts opinion’s wavering on DNA shares the company is still valued at approximately $3.86 billion as of June 11th listing opening at $1.85 per share with a market cap indicating positive growth but hovering below the targets many had previously set on the company’s stock suggesting the company is currently undervalued resulting in an overall average rating from analysts being “hold” with a $4.10 average price target according to Bloomberg.
It is interesting how the investor activity in Ginkgo Bioworks has created ripples of effect among prominent institutions, and what this means for the future trajectory of this research-forward biotechnology firm remains to be seen. With increased shareholder interest, it could imply that investors are bullish on Ginkgo Bioworks’ business model, growth prospects, or have other favorable expectations. However on analysis of expert opinion it may still be worth considering further due diligence before placing large investment bets on the potential upside according to recent reports by notable financial institutions.