Ginkgo Bioworks (NYSE:DNA) Issues Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Ginkgo Bioworks (NYSE:DNAGet Rating) issued its quarterly earnings data on Monday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.26), Fidelity Earnings reports. Ginkgo Bioworks updated its FY 2022 guidance to EPS.

Shares of NYSE:DNA opened at $2.43 on Tuesday. The company has a 50 day moving average of $3.34 and a 200 day moving average of $6.65. The company has a quick ratio of 12.76, a current ratio of 12.79 and a debt-to-equity ratio of 0.01. Ginkgo Bioworks has a 12 month low of $2.09 and a 12 month high of $15.86.

A number of research firms recently weighed in on DNA. The Goldman Sachs Group started coverage on shares of Ginkgo Bioworks in a research report on Wednesday, February 23rd. They set a “neutral” rating and a $7.00 price target on the stock. BTIG Research lowered their target price on Ginkgo Bioworks from $12.00 to $6.00 in a research note on Thursday, March 31st. Raymond James set a $11.50 price target on shares of Ginkgo Bioworks and gave the company an “outperform” rating in a research report on Monday, April 25th. Zacks Investment Research lowered shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Finally, Cowen began coverage on shares of Ginkgo Bioworks in a research note on Wednesday, March 2nd. They set an “outperform” rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.82.

Large investors have recently added to or reduced their stakes in the business. JustInvest LLC purchased a new position in shares of Ginkgo Bioworks during the fourth quarter worth about $298,000. ProShare Advisors LLC purchased a new stake in shares of Ginkgo Bioworks during the 1st quarter valued at $284,000. Citigroup Inc. bought a new stake in shares of Ginkgo Bioworks during the 4th quarter worth $245,000. HighTower Advisors LLC grew its position in Ginkgo Bioworks by 76.2% in the first quarter. HighTower Advisors LLC now owns 55,027 shares of the company’s stock worth $222,000 after acquiring an additional 23,792 shares in the last quarter. Finally, LPL Financial LLC bought a new position in Ginkgo Bioworks in the third quarter valued at $212,000. 46.93% of the stock is currently owned by hedge funds and other institutional investors.

About Ginkgo Bioworks (Get Rating)

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

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