Analysts Set Zymergen Inc. (NASDAQ:ZY) Target Price at $7.18

Shares of Zymergen Inc. (NASDAQ:ZYGet Rating) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.18.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Zymergen from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research report on Saturday, January 8th. UBS Group cut their price target on Zymergen from $13.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, March 24th. William Blair reissued a “market perform” rating on shares of Zymergen in a report on Wednesday, March 9th. HSBC raised Zymergen from a “reduce” rating to a “hold” rating and set a $6.50 price objective for the company in a research note on Wednesday, January 12th. Finally, The Goldman Sachs Group dropped their price objective on Zymergen from $10.50 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, March 24th.

In related news, CTO Aaron Kimball sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 18th. The shares were sold at an average price of $5.18, for a total transaction of $259,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Zachariah Serber sold 21,730 shares of Zymergen stock in a transaction on Monday, January 24th. The shares were sold at an average price of $4.76, for a total transaction of $103,434.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,098 shares of company stock worth $660,788.

A number of institutional investors have recently bought and sold shares of ZY. BlackRock Inc. grew its position in Zymergen by 246.4% in the fourth quarter. BlackRock Inc. now owns 4,134,691 shares of the company’s stock worth $27,661,000 after acquiring an additional 2,941,214 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Zymergen by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 3,563,435 shares of the company’s stock valued at $23,839,000 after buying an additional 91,260 shares in the last quarter. Data Collective II GP LLC acquired a new position in shares of Zymergen in the 4th quarter valued at $16,383,000. Morgan Stanley grew its holdings in shares of Zymergen by 28.8% in the 3rd quarter. Morgan Stanley now owns 1,506,635 shares of the company’s stock worth $19,842,000 after purchasing an additional 336,702 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Zymergen by 605.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,245,635 shares of the company’s stock worth $8,333,000 after purchasing an additional 1,068,995 shares during the last quarter. 48.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ZY traded down $0.15 during midday trading on Thursday, reaching $2.08. 82,657 shares of the company traded hands, compared to its average volume of 953,577. The firm has a market capitalization of $214.49 million and a price-to-earnings ratio of -0.22. The firm’s fifty day moving average price is $3.52 and its two-hundred day moving average price is $6.93. Zymergen has a 12 month low of $2.22 and a 12 month high of $52.00.

Zymergen (NASDAQ:ZYGet Rating) last posted its quarterly earnings results on Tuesday, March 22nd. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.03. Zymergen had a negative return on equity of 213.99% and a negative net margin of 2,160.81%. As a group, equities analysts anticipate that Zymergen will post -2.78 earnings per share for the current year.

Zymergen Company Profile (Get Rating)

Zymergen Inc design, develop, and commercialize microbes, molecules, and materials. It offers an automation solution comprising reconfigurable automation carts, a modular hardware building blocks that allow for assembly of work cells customized for the particular needs of a lab; and automation control software, a cloud-based software used to control integrated automation systems.

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Analyst Recommendations for Zymergen (NASDAQ:ZY)

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