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,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the company. BTIG Research reaffirmed a “sell” rating and set a $5.00 target price on shares of Ginkgo Bioworks in a research note on Friday, September 4th. Zacks Research raised shares of Ginkgo Bioworks to a “hold” rating in a report on Monday, August 17th. TD Cowen lowered shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $9.00 in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Finally, Oppenheimer set a $5.00 target price on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Ginkgo Bioworks has an average rating of “Reduce” and an average price target of $6.33.

Ginkgo Bioworks Price Performance

DNA opened at $10.52 on Friday. The business has a 50 day moving average price of $7.70 and a two-hundred day moving average price of $8.01. The company has a market capitalization of $708.55 million, a price-to-earnings ratio of -2.10 and a beta of 1.76. Ginkgo Bioworks has a 1-year low of $5.37 and a 1-year high of $17.58.

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

Insider Activity

In other news, Director Christian Henry sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $7.08, for a total transaction of $35,400.00. Following the completion of the sale, the director directly owned 19,310 shares of the company’s stock, valued at $136,714.80. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of DNA. Integrated Wealth Concepts LLC purchased a new position in shares of Ginkgo Bioworks during the second quarter valued at $50,000. Arizona State Retirement System acquired a new position in Ginkgo Bioworks during the second quarter valued at $102,000. AXQ Capital LP purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth about $262,000. Balance Capital Partners L.P. purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth about $1,972,179. Finally, Entropy Technologies LP acquired a new stake in Ginkgo Bioworks during the 1st quarter worth about $67,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.