Ginkgo Bioworks (NYSE:DNA) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Ginkgo Bioworks (NYSE:DNA) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Several other research analysts have also weighed in on DNA. Zacks Research raised shares of Ginkgo Bioworks to a “hold” rating in a report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. TD Cowen cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and reduced their price target for the stock from $12.00 to $9.00 in a research report on Friday, August 7th. Finally, BTIG Research reaffirmed a “sell” rating and set a $5.00 price target on shares of Ginkgo Bioworks in a research report on Friday. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Ginkgo Bioworks presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Ginkgo Bioworks Price Performance

Shares of DNA opened at $6.95 on Friday. The firm has a market cap of $468.01 million, a price-to-earnings ratio of -1.39 and a beta of 1.76. The business’s 50 day moving average is $8.12 and its two-hundred day moving average is $8.01. Ginkgo Bioworks has a 52-week low of $5.37 and a 52-week high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. The business had revenue of $20.16 million during the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, equities analysts expect that Ginkgo Bioworks will post -3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. acquired a new position in Ginkgo Bioworks in the fourth quarter valued at approximately $4,503,000. Balance Capital Partners L.P. acquired a new stake in shares of Ginkgo Bioworks during the 2nd quarter worth approximately $1,972,179. UBS Group AG lifted its holdings in shares of Ginkgo Bioworks by 86.4% in the 4th quarter. UBS Group AG now owns 489,418 shares of the company’s stock worth $4,067,000 after purchasing an additional 226,861 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ginkgo Bioworks by 28,457.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock worth $1,901,000 after purchasing an additional 227,943 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Ginkgo Bioworks during the 1st quarter valued at approximately $616,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.