Weiss Ratings Reaffirms Sell (D-) Rating for Ginkgo Bioworks (NYSE:DNA)

Key Points

• Weiss Ratings has reaffirmed a Sell (D-) rating for Ginkgo Bioworks (NYSE: DNA), indicating a negative outlook for the stock.
• Despite the sell rating from Weiss, analysts from Cowen have issued a Buy rating and BTIG raised their price target to $9.00, suggesting mixed opinions on the stock's potential.
• Ginkgo Bioworks' stock price increased by 8.6% in mid-day trading, reaching $16.09, amid notable trading volume and a market cap of approximately $952.53 million.

Ginkgo Bioworks (NYSE:DNA - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on DNA. Cowen reiterated a "buy" rating on shares of Ginkgo Bioworks in a research report on Friday, August 8th. BTIG Research boosted their price target on shares of Ginkgo Bioworks from $6.00 to $9.00 and gave the company a "sell" rating in a research report on Monday, August 25th. Finally, Wall Street Zen upgraded shares of Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $9.00.

Ginkgo Bioworks Trading Up 8.6%

Shares of DNA stock traded up $1.27 during mid-day trading on Wednesday, reaching $16.09. The stock had a trading volume of 3,162,472 shares, compared to its average volume of 1,700,927. The stock's 50-day moving average price is $12.47 and its two-hundred day moving average price is $9.93. Ginkgo Bioworks has a 52-week low of $5.00 and a 52-week high of $17.58. The firm has a market capitalization of $952.53 million, a PE ratio of -2.75 and a beta of 1.54.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $49.60 million for the quarter, compared to analysts' expectations of $41.60 million. Ginkgo Bioworks has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Ginkgo Bioworks will post -10.02 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven P. Coen sold 5,609 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $15.00, for a total transaction of $84,135.00. Following the sale, the insider owned 5,503 shares of the company's stock, valued at $82,545. The trade was a 50.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Ginkgo Bioworks

Several hedge funds have recently bought and sold shares of DNA. Raymond James Financial Inc. bought a new stake in Ginkgo Bioworks during the second quarter worth about $29,000. US Bancorp DE boosted its stake in Ginkgo Bioworks by 43.5% during the first quarter. US Bancorp DE now owns 6,302 shares of the company's stock worth $36,000 after acquiring an additional 1,911 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Ginkgo Bioworks during the second quarter worth about $45,000. CWM LLC lifted its stake in shares of Ginkgo Bioworks by 667.6% in the first quarter. CWM LLC now owns 12,274 shares of the company's stock worth $70,000 after buying an additional 10,675 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Ginkgo Bioworks in the second quarter worth approximately $71,000. Institutional investors own 78.63% of the company's stock.

About Ginkgo Bioworks

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.

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