Codex DNA (NASDAQ:DNAY) Lowered to Sell at Zacks Investment Research

Codex DNA (NASDAQ:DNAYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Codex DNA Inc. is a creator of the BioXp(TM) system, a fully automated benchtop instrument which enables numerous synthetic biology workflows. Codex DNA Inc. is based in SAN DIEGO. “

DNAY has been the topic of a number of other research reports. Cowen started coverage on Codex DNA in a research report on Wednesday, March 2nd. They issued a “buy” rating on the stock. KeyCorp dropped their target price on Codex DNA from $30.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, March 28th.

DNAY stock traded down $0.13 during trading on Friday, hitting $4.13. The stock had a trading volume of 190,601 shares, compared to its average volume of 400,768. The company has a current ratio of 9.57, a quick ratio of 9.33 and a debt-to-equity ratio of 0.16. Codex DNA has a twelve month low of $3.93 and a twelve month high of $25.70. The company’s 50-day moving average price is $7.38 and its two-hundred day moving average price is $8.10.

Codex DNA (NASDAQ:DNAYGet Rating) last posted its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.05). The company had revenue of $3.08 million during the quarter, compared to the consensus estimate of $3.83 million. On average, sell-side analysts anticipate that Codex DNA will post -2.11 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc acquired a new stake in shares of Codex DNA during the first quarter worth about $215,000. BlackRock Inc. boosted its stake in shares of Codex DNA by 45.2% during the fourth quarter. BlackRock Inc. now owns 484,089 shares of the company’s stock worth $5,229,000 after buying an additional 150,618 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Codex DNA by 1,245.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,606 shares of the company’s stock worth $39,000 after buying an additional 3,338 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Codex DNA during the fourth quarter worth about $352,000. Finally, Northpond Ventures LLC acquired a new stake in shares of Codex DNA during the fourth quarter worth about $106,317,000. Institutional investors own 31.49% of the company’s stock.

About Codex DNA (Get Rating)

Codex DNA, Inc, a synthetic biology company, manufactures and sells synthetic biology instruments, reagents, and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide. Its solutions include BioXp system that empowers researchers to go from a digital DNA sequence to endpoint-ready synthetic DNA; BioXp portal, an online portal that offers an intuitive guided workflow and design tools for building new DNA sequences and assembling them into vectors of choice; BioXp kits that contain building blocks and reagents, including its Gibson Assembly branded reagents, for specific synthetic biology workflow applications; Cloud-based scripts; Benchtop reagents that contain all the reagents necessary to proceed with a specific synthetic biology workflow on the benchtop using products generated on the BioXp system; Biofoundry Services, which enable a customer to order and receive the BioXp system endpoint-ready products, such as genes, clones, cell-free amplified DNA, and variant libraries; and short oligo ligation assembly enzymatic DNA synthesis.

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