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

Key Points

• Wall Street Zen upgraded Ginkgo Bioworks from “sell” to “hold,” but the broader analyst consensus remains “sell,” with an average price target of $7.00. TD Cowen also downgraded the stock to “hold” and cut its target to $9.00.
• Ginkgo Bioworks shares were trading down 6.4%, opening at $7.96, while the company has a market capitalization of approximately $519.6 million and a 12-month trading range of $5.37 to $17.58.
• The company reported a quarterly loss of $0.75 per share, better than the expected $0.90 loss, but revenue of $20.16 million fell short of the $24.05 million consensus estimate. Institutional investors own approximately 78.63% of the stock.

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

A number of other equities research analysts have also weighed in on DNA. TD Cowen lowered shares of Ginkgo Bioworks from a "buy" rating to a "hold" rating and lowered their target price for the stock from $12.00 to $9.00 in a report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Sell" and an average target price of $7.00.

Ginkgo Bioworks Trading Down 6.4%

NYSE DNA opened at $7.96 on Friday. The company has a market cap of $519.62 million, a P/E ratio of -1.48 and a beta of 1.78. The company has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $8.32. 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 released its quarterly earnings data 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 215.41% and a negative return on equity of 56.08%. The firm had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million.

Institutional Investors Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Ginkgo Bioworks during the 3rd quarter worth approximately $29,000. Raymond James Financial Inc. bought a new position in shares of Ginkgo Bioworks in the second quarter valued at approximately $29,000. Strategic Advocates LLC increased its position in shares of Ginkgo Bioworks by 808.9% during the fourth 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 during the first quarter valued at approximately $67,000. Finally, Daiwa Securities Group Inc. bought a new stake in Ginkgo Bioworks during the second quarter worth $71,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

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.

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