Ginkgo Bioworks (NYSE:DNA) Stock Rating Lowered by Wall Street Zen

Ginkgo Bioworks (NYSE:DNA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. BTIG Research restated a “sell” rating and issued a $5.00 price objective on shares of Ginkgo Bioworks in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Finally, TD Cowen lowered Ginkgo Bioworks from a “buy” rating to a “hold” rating and dropped their target price for the company from $12.00 to $9.00 in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $7.00.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $6.95 on Friday. The company has a fifty day simple moving average of $8.12 and a two-hundred day simple moving average of $8.00. The stock has a market cap of $468.01 million, a P/E ratio of -1.39 and a beta of 1.76. Ginkgo Bioworks has a 12-month low of $5.37 and a 12-month high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. As a group, sell-side analysts forecast that Ginkgo Bioworks will post -3.2 earnings per share for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several hedge funds and other institutional investors have recently modified their holdings of DNA. Quarry LP acquired a new stake in shares of Ginkgo Bioworks in the 3rd quarter worth $29,000. Raymond James Financial Inc. acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at about $29,000. Strategic Advocates LLC boosted its position in shares of Ginkgo Bioworks by 808.9% during the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after acquiring an additional 3,899 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Ginkgo Bioworks in the first quarter valued at about $67,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Ginkgo Bioworks in the second quarter valued at about $71,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.