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Boston, MA – Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) recently reported a stock transaction by its Chief Financial Officer, Mark E. Dmytruk, according to a recent SEC filing. The transaction comes as the company’s stock has shown remarkable momentum, posting a 66.6% gain year-to-date. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics. On February 4, Dmytruk sold 740 shares of Class A Common Stock at an average price of $13.443 per share, amounting to a total sale value of $9,947.
This transaction was part of a series of stock activities reported by Dmytruk. On February 3, he acquired a total of 1,487 shares of Class A Common Stock through the exercise of restricted stock units (RSUs). These RSUs, which represent a right to receive shares of the company’s Class A Common Stock, were acquired without a cash transaction.
The sale of shares on February 4 was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. This type of transaction is not considered a discretionary trade by the reporting person, as it is part of the company’s equity incentive plans.
Following these transactions, Dmytruk now holds 33,963 shares of Ginkgo Bioworks’ Class A Common Stock.
In other recent news, Ginkgo Bioworks has reported significant developments. The company has announced a collaboration with Carnegie Mellon University on a project aimed at developing bioelectronic devices for diagnosing and treating hormone disorders. The project, named the Biointegrated Implantable Systems for Cell-based Sensing and Therapy (BIO-INSYNC), is funded by a subcontract of up to $9.4 million from the Advanced Research Projects Agency for Health’s (ARPA-H) Resilient Extended Automatic Cell Therapies (REACT) program.
In the financial arena, Ginkgo Bioworks has released its financial results for the third quarter of 2024, highlighting strategic progress and substantial cost reductions. Despite a 20% decrease in cell engineering revenue, the company achieved a $9 million milestone with Merck (NSE:PROR) and reported growth in active programs and customers. The company also noted significant improvements in adjusted EBITDA and updated its full-year revenue guidance.
These recent developments underscore Ginkgo Bioworks’ commitment to strategic initiatives such as cost management, efficiency improvements, and product expansion. The company’s restructuring efforts and the launch of innovative tools in functional genomics and antibody developability signal a strategic pivot towards more efficient service delivery and customer growth.
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