Ginkgo Bioworks (NYSE:DNA) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Ginkgo Bioworks (NYSE:DNA) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $8.50.

Ginkgo Bioworks Stock Performance

Shares of DNA stock opened at $7.57 on Friday. The firm’s 50-day moving average is $8.81 and its 200-day moving average is $8.42. The stock has a market cap of $494.15 million, a price-to-earnings ratio of -1.41 and a beta of 1.77. Ginkgo Bioworks has a 52-week low of $5.37 and a 52-week high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.18). The business had revenue of $19.00 million for the quarter, compared to the consensus estimate of $42.93 million. Ginkgo Bioworks had a negative return on equity of 56.08% and a negative net margin of 215.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DNA. Quarry LP acquired a new stake in Ginkgo Bioworks during the third quarter worth approximately $29,000. Raymond James Financial Inc. bought a new position in shares of Ginkgo Bioworks during the second quarter worth approximately $29,000. Strategic Advocates LLC lifted its holdings in Ginkgo Bioworks by 808.9% during the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after purchasing an additional 3,899 shares during the last quarter. Entropy Technologies LP acquired a new stake in Ginkgo Bioworks during the 1st quarter worth approximately $67,000. Finally, Daiwa Securities Group Inc. bought a new stake in Ginkgo Bioworks in the 2nd quarter valued at $71,000. 78.63% of the stock is owned by institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.