Ginkgo Bioworks (NYSE:DNA) Rating Increased to Hold at Wall Street Zen

Key Points

• Ginkgo Bioworks has received an upgrade from Wall Street Zen from a "sell" rating to a "hold" rating, indicating changing sentiment towards the stock.
• The company reported a quarterly earnings beat with ($1.10) earnings per share, surpassing the consensus estimate of (1.44).
• Ginkgo Bioworks has a current market capitalization of $752.49 million and its shares opened at $12.71 recently, with a consensus target price of $9.50.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

DNA has been the subject of a number of other research reports. Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a report on Friday, August 8th. BTIG Research lifted their price objective on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $9.50.

Ginkgo Bioworks Stock Performance

Ginkgo Bioworks stock traded up $0.54 during midday trading on Friday, reaching $12.71. The stock had a trading volume of 2,034,023 shares, compared to its average volume of 1,626,014. Ginkgo Bioworks has a 52-week low of $5.00 and a 52-week high of $16.85. The company has a fifty day moving average of $12.01 and a 200 day moving average of $9.29.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.44) by $0.34. Ginkgo Bioworks had a negative net margin of 136.56% and a negative return on equity of 43.25%. The company had revenue of $49.60 million for the quarter, compared to analyst estimates of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. Research analysts forecast that Ginkgo Bioworks will post -10.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DNA. Barclays PLC grew its position in shares of Ginkgo Bioworks by 353.6% in the 4th quarter. Barclays PLC now owns 54,166 shares of the company's stock worth $531,000 after buying an additional 42,224 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ginkgo Bioworks by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 82,815 shares of the company's stock worth $814,000 after buying an additional 3,152 shares during the last quarter. Northern Trust Corp grew its position in shares of Ginkgo Bioworks by 11.5% in the 4th quarter. Northern Trust Corp now owns 94,876 shares of the company's stock worth $932,000 after buying an additional 9,791 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Ginkgo Bioworks in the 4th quarter worth approximately $1,000,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Ginkgo Bioworks in the 4th quarter worth approximately $116,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.