Ginkgo Bioworks (NYSE:DNA) Upgraded at Wall Street Zen

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

DNA has been the subject of a number of other research reports. TD Cowen cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $7.00.

Ginkgo Bioworks Price Performance

NYSE DNA opened at $7.66 on Friday. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $8.31. Ginkgo Bioworks has a 12 month low of $5.37 and a 12 month high of $17.58. The stock has a market capitalization of $500.35 million, a P/E ratio of -1.53 and a beta of 1.78.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The company had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DNA. Vanguard Group Inc. increased its stake in Ginkgo Bioworks by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,480,504 shares of the company’s stock worth $36,166,000 after buying an additional 99,379 shares during the period. Legal & General Group Plc boosted its position in Ginkgo Bioworks by 7.9% in the 3rd quarter. Legal & General Group Plc now owns 1,608,923 shares of the company’s stock valued at $23,458,000 after buying an additional 118,402 shares during the period. Millennium Management LLC grew its stake in shares of Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock worth $8,137,000 after acquiring an additional 757,535 shares in the last quarter. State Street Corp grew its stake in shares of Ginkgo Bioworks by 38.4% in the fourth quarter. State Street Corp now owns 1,292,071 shares of the company’s stock worth $10,737,000 after acquiring an additional 358,231 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ginkgo Bioworks by 23.7% during the fourth quarter. Geode Capital Management LLC now owns 999,600 shares of the company’s stock worth $8,309,000 after acquiring an additional 191,240 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.