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

Key Points

• Wall Street Zen downgraded Ginkgo Bioworks to “sell” from “hold.” The stock has an average analyst rating of “Reduce,” with a consensus price target of $7.00.
• Ginkgo Bioworks opened at $6.95, below its 50-day and 200-day moving averages of $8.12 and $8.01, respectively, and has traded between $5.37 and $17.58 over the past year.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.75 per share versus the expected loss of $0.90, but revenue of $20.16 million came in below the $24.05 million consensus estimate. Analysts expect a full-year loss of $3.20 per share.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the stock. Zacks Research upgraded shares of Ginkgo Bioworks to a "hold" rating in a research note on Monday, August 17th. BTIG Research reissued a "sell" rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday. Weiss Ratings restated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. Finally, TD Cowen downgraded Ginkgo Bioworks from a "buy" rating to a "hold" rating and decreased their price target for the stock from $12.00 to $9.00 in a report on Friday, August 7th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $7.00.

Ginkgo Bioworks Price Performance

DNA stock opened at $6.95 on Friday. The company has a market cap of $468.01 million, a price-to-earnings ratio of -1.39 and a beta of 1.76. The company has a fifty day moving average price of $8.12 and a 200 day moving average price of $8.01. Ginkgo Bioworks has a 12 month low of $5.37 and a 12 month high of $17.58.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.15. The company had revenue of $20.16 million for 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%. As a group, analysts anticipate that Ginkgo Bioworks will post -3.2 earnings per share for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Ginkgo Bioworks during the third quarter worth $29,000. Raymond James Financial Inc. purchased a new position in shares of Ginkgo Bioworks in the second quarter valued at $29,000. Strategic Advocates LLC increased its position in shares of Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock valued at $36,000 after buying an additional 3,899 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Ginkgo Bioworks during the 1st quarter worth $67,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $71,000. 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.

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