Zymergen (NASDAQ:ZY) Price Target Cut to $4.00 by Analysts at The Goldman Sachs Group

Zymergen (NASDAQ:ZYGet Rating) had its price target reduced by equities researchers at The Goldman Sachs Group from $6.00 to $4.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 91.39% from the stock’s current price.

A number of other brokerages have also recently issued reports on ZY. William Blair restated a “market perform” rating on shares of Zymergen in a research note on Wednesday, March 9th. Zacks Investment Research raised shares of Zymergen from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Saturday, January 8th. UBS Group dropped their price target on shares of Zymergen from $13.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, March 24th. Finally, HSBC raised shares of Zymergen from a “reduce” rating to a “hold” rating and set a $6.50 target price on the stock in a report on Wednesday, January 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.89.

Shares of ZY stock opened at $2.09 on Wednesday. The company has a 50 day moving average of $3.46 and a 200-day moving average of $6.90. Zymergen has a 12-month low of $2.07 and a 12-month high of $52.00. The firm has a market cap of $215.52 million and a P/E ratio of -0.22.

Zymergen (NASDAQ:ZYGet Rating) last announced its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.76) earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Zymergen will post -2.78 earnings per share for the current fiscal year.

In other Zymergen news, CTO Aaron Kimball sold 32,639 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2.87, for a total value of $93,673.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Zachariah Serber sold 21,730 shares of the company’s stock in a transaction that occurred on Monday, January 24th. The stock was 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. Insiders sold a total of 147,098 shares of company stock worth $660,788 over the last quarter.

Several institutional investors have recently made changes to their positions in ZY. Royal Bank of Canada raised its position in Zymergen by 99.9% in the 3rd quarter. Royal Bank of Canada now owns 2,561 shares of the company’s stock worth $34,000 after purchasing an additional 1,280 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Zymergen by 1,265.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,300 shares of the company’s stock valued at $56,000 after acquiring an additional 3,985 shares during the period. Captrust Financial Advisors bought a new position in Zymergen during the 3rd quarter worth approximately $66,000. Legal & General Group Plc increased its stake in Zymergen by 323.1% in the 4th quarter. Legal & General Group Plc now owns 6,715 shares of the company’s stock worth $45,000 after purchasing an additional 5,128 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Zymergen by 10.7% in the third quarter. Bank of New York Mellon Corp now owns 65,805 shares of the company’s stock worth $867,000 after purchasing an additional 6,354 shares during the last quarter. 48.77% of the stock is owned by institutional investors.

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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