Shares of the Ginkgo Bioworks Holdings, Inc. (DNA) stock were declining in the current market today on January 12, 2022. The stock became bearish after the company provided the update regarding its preliminary unaudited 2021 revenue highlights and business review. DNA stock price saw a decline of 1.76% to reach $6.71 a share at the time of this writing. Let’s deep dive to explore more of it.
Recent Update of the DNA stock:
- The company has reported today that it expects to meet or exceed the revenue targets for the full year 2021. The company expects that its revenue from its cell programming and biosecurity offerings will be more than estimated. Ginkgo is anticipating that its Biosecurity revenue will exceed its previous outlook by 50%. The 2021 key performance highlights are given below.
- The company completed its goal of adding at least 30 new programs in 2021. This milestone resulted in the launch of 100 cumulative cell programs at Ginkgo.
- The company previously provided the estimate of $100 million Foundry revenue for the full year 2021. DNA expects higher revenue than the previously provided outlook for the full year 2021.
- The Biosecurity revenue is expected to increase by more than 50% from the previously disclosed outlook by the company. The previous outlook for the revenue of DNA stock was $110 million.
2022 Priorities:
Ginkgo Bioworks has a strong balance sheet, and the management is optimistic that the company will outperform in the future. The main focus of the company in 2022 is to invest in the platform infrastructure and research and development. The management is also focusing on the organization buildout in order to support scaling partnerships. Opportunistic external investments are also included in the list of 2022 priorities of the company.
Previous News of DNA stock:
Recently Ginkgo Bioworks adopted the Onyx™ genome engineering platform in its foundries. Ginkgo is committed to integrating cutting-edge technology into its foundries. The motive behind this is to leverage the performance as well as productivity of the metabolic and engineering workflow of the company. The company is progressing which is a good sign for the long-term shareholders of the DNA stock.
Conclusion:
DNA stock has captivated the attention of the investors after the company provided the business review and highlights. However, the stock has lost 30.56% in the last thirty days and almost 30% in the last six months.
